Comptroller's Office
 Policies and Procedures Manual

Effective: 01/01/2000
Revised: 02/18/2013 

CMP 430-26: Voluntary Fund Transfers


Purpose

To list and define the use of voluntary transfer-out expense account codes and voluntary transfer-in revenue account codes.


Source

University Policy

Policy

Voluntary fund transfers may be made between PeopleSoft Financial Departments to fund expense activity in the receiving (transfer-in) Department. Transfers are not allowed for state departments (Fund Code beginning with a "1",  Speedtype suffix *F11 or *F12 ) and agency units (Fund Code beginning with a "7"or Speedtype suffix of *F7* ).  As a general rule, voluntary fund transfers should be used to provide funding support for expense activity outside the funding Department's Program Code and that is more appropriate for another Department expense activity type (see CMP 202: Establishment of Dept/Units for Dept/Unit activity coding information). Some examples include:

A transfer-out to an Department must be offset by a transfer-in from another Department for the same dollar amount.


Procedure

Transfers between PS Departments are processed through a Departmental Journal (IDT journal source). Valid journals are routed to the department being charged (transfer out) for approval.  The journal is then routed to Financial Accounting Services for final approval if less than $5,000.  Transfers greater than $5,000 are routed to the Budget Office prior to being routed to Financial Accounting Services for final approval .


Codes

Transfer-Out Expense Account Code
Account Code Name Account Definition
Voluntary Transfer-In  810500 to transfer in revenue (credit)
Voluntary Transfer-out  830500 to charge transfer-out expense (debit)  

 


Cross-Reference

For information on expense to expense transfers, see CMP 430-29: Expense Transfers - Non Payroll

For information on revenue to revenue transfers, see CMP 308-30, Revenue Transfers

For instructions and a form for transferring Payroll Expenses, visit the Payroll Web Site or see CMP 430-28.


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