Grant accounting handbook

Section XVIII

Budget revisions

YEAR TO DATE BUDGET REPORTS

Directors will print a Year to Date Budget Report each month. This report lists every line item of the budget in object code order, description of item, original amount appropriated, transfers/adjustments, revised budget, year to date expended, outstanding encumbrances, available budget, and percent used.

A minus in the "Available Budget" column indicates that an account has overspent by that amount for a particular line item. Should this occur, it would be necessary to prepare a Budget Transfer Request. (See Notes below) This should be done on a quarterly basis. Anticipate any changes that might be needed even if account is not in a deficit position at that time. This could include revising the budget due to vacancy credit or program changes.

The printed copy of the handbook contains in the appendices the following sample reports:

• Year to Date Budget Report
• Instructions for printing YTD Budget Reports within MUNIS
• Budget Transfer Request

BUDGET TRANSFER REQUEST

To generate a Purchase Order the appropriate funds must be available in the appropriate object code. If the available funds are not budgeted in the Object Code, which properly describes the transaction, the grant/budget manager must approve a Budget Transfer and the proper transfer form submitted to the Budget Services Office. The following information is required on the Budget Transfer Request:

• Name of School or Department
• Month and Fiscal Year
• Description of Transfer/how the Transfer is linked to better utilizing grant funds
• ORG, Object and Project Code/if applicable from the Budget being decreased; the Project Code must be the same on the increase as it is on the decrease side
• ORG, Object and Project Code/if applicable to the Budget being increased
• Indicate if this is a current year only or permanent transfer
• Signature of staff member requesting the transfer
• Signature of Department Head, Director or Principal approving transfer
• Forward request to Budget Services

NOTE 1: If your grant project is part of Consolidated Planning and requires a budget amendment, please see Section XX pg. 38 of the printed handbook for appropriate directions.

NOTE 2: Please allow four (4) working days for a Budget Transfer to be completed. Review Budgets periodically to avoid emergency transferring of funds.

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Last update: 2/20/2004 4:01:28 PM