Request for Funds Transfer FIN001 (Old Form)
NOTICE: A new, user-friendly Request for Funds Transfer form has been created and can be accessed by clicking HERE. The old version will be taken off-line on May 15, 2013.
Use the Request for Funds Transfer when you want to transfer money from one fund to another (rather than moving budget within the same fund). You can only move money from one fund to another through special transfer in and transfer out pools, so the process involves more steps than does a budget transfer within the same fund. We revised the Request for Transfer form to combine the required budget adjustments with the funds transfer so that you can now process all steps on one form. The complete process consists of three steps that correspond to the three sections on the form.
A. To move money out of a fund, you must first transfer budget from an available source (e.g., maintenance) to a transfer out budget pool with that fund. This commits a part of your budget for a transfer so you cannot spend it on other expenses within this fund.
B. Now that the budget is in the transfer out pool of the first fund, you can actually transfer the funds to a transfer in pool of the second fund.
C. Now that the money is in the transfer in pool of the second fund, it must be budgeted in an account in which you can actually spend it (e.g., maintenance).
See the link above - Funds Transfer Example - for a completed example.
Section A - Budget Transfer in “From” Fund
(The budget transfer in the fund from which you are transferring money.)
FROM Line: Enter the fund and organization from which you are transferring the funds. Next, enter the budget pool account code from which you are transferring budget. For example, if you are transferring a portion of your maintenance budget, enter “Maintenance” on the account name line and the maintenance budget pool account “710000″ on the account line. It is possible to move budget from more than one budget pool, such as extra labor and maintenance. Finally, enter the program code tied to that specific fund code, or the default program code for your organization, such as 401100 for Instruction.
TO Line: Enter the same fund and organization as above along with a “Transfer Out” budget pool account, which is generally 820000 with program code 900000. Account codes for all budget transfers should be budget pool accounts. See the link above - Accounts & Programs - for a list of appropriate account and program codes.
Section B - Transfer Between Funds
(The actual transfer of money from one fund to another)
FROM Line: Enter the fund and organization from which you are transferring the money. The transfer out account and program generally are 821000 and 900000 respectively.
TO Line: Enter the fund and organization to which you are transferring the money. The transfer in account and program are generally 811000 and 900000 respectively. Note that the account codes in this section are not the same as the budget pool accounts used in Sections A & C.
Section C - Budget Transfer in “To” Fund
(The budget transfer in the fund to which you are transferring money)
FROM Line: Enter the fund and organization to which you are transferring the funds. Enter “Transfer In” on the account name line and the budget pool account and program, which is generally account 810000 and program 900000.
TO Line: Enter the same fund and organization as above. Next, enter all of the budget pool account codes where you want your budget increased. For example, to budget the transfer in maintenance you would enter “Maintenance” on the account name line and enter account code “710000″ on the account line. Finally, enter the program code that is tied to that particular fund code, or the default program code for your organization, such as 401100 for Instruction.
NOTE: The accounts and program codes in all sections will change if the transfer is for cash match. See the link above - Accounts & Programs - for appropriate codes, or call your grant manager in ORSP for further instructions.
Purpose: Enter the purpose or reason for the funds transfer.
Approvals: The financial managers of both the FROM fund and the TO fund must approve the request. Refer to the link above - Routing Instructions - to determine the appropriate routing for the approved form.