Lake Superior State University
Lake Superior State University
 
Related Sites

 

Section: Business and Support Operations Section Number: 3.2.3
Subject: Budgets: Budget Transfer Date of Present Issue: 04/07/00
  Date of Previous Issues:
12/74, 05/88, 11/92, 08/93

POLICY:

All adjustments to approved budgets for any department or organization of Lake Superior State University must be requested through the Office of the Budget and Planning Analyst. This procedure is applicable to all approved budgets regardless of the source of funds or any restrictions placed on the use of the funds by a grantor.

PROCEDURE

WHO DOES WHAT
Requesting Department 1. Requests (in writing) that the Budget and Planning Analyst transfer funds for the department budget, including justification for the request.
Budget Office 2. Concurs or rejects request on the basis of available funds and compliance with University policy.

3. Initiates Budget Adjustment Form (Attachment #1) indicating the number and title of the accounts to be decreased and increased, the amount(s), and justification of transfer.

  1. Signs and forwards all transfer forms to appropriate vice president indicating concurrence except transfers under "b" and "c" below.

  2. Approves transfer if it involves transfer of funds from one object code to another within a specific department providing the transfer amount is less than $5,000; e.g. CSSM account $200 excess vs. need for $200 for student help.

  3. Approves transfer to adjust the budget to agree with appropriately approved expenditure documents (i.e. payroll authorization, purchase order).

  4. Approves transfer if it involves transfer of funds between different accounts and if transfer has approval of both department heads and is less than $5,000.

  5. If amount of transfer is over $5,000 or if Vice President's approval is necessary, continue with Step 4. If not, proceed to Step 5.
Appropriate Vice President 4. Approves or rejects request.

  1. Signs and returns approved request to Budget and Planning Analyst, or

  2. Returns request to Budget and Planning Analyst, indicating rejection.
Budget Office 5. Reports approval or rejection of transfers to the appropriate parties involved.

6. Enters the approved adjustments into the computer system.

Home » 3.2.3 - Budgets: Budget Transfer
Share this page with your friends: