|Policy Title||Budget Allocation, Expenditure, Revenue and Balance Transfers|
|Responsible Office||Senior Associate Vice President for Budget and Business Affairs|
|Policy Type||Business Affairs|
|Last Revision Date||4/21/2021|
Budget Allocation Transfer
At the beginning of each fiscal year, budget allocations are provided to University organizations in accordance with the University's financial plan.
Budget Allocations are assigned to organizations in three major expenditure type groupings: Personal Service Regular (PSR), Personal Service Temporary (PST), and Other than Personal Service (OTPS). Allocations may be further divided into sub groupings such as Supplies, Equipment, Recharges, Operating and Travel at the organization's request.
Sufficient allocations must be distributed at the major object level (PSR, PST, OTPS) within all Revenue Offset and Dormitory Income Fund Reimbursable (DIFR) accounts to accommodate associated expense . It is optional, but not required, to assign allocations to Income Fund Reimbursable (IFR) and State University Tuition Reimbursable (SUTRA)accounts, as these accounts operate on a cash basis.
Account managers are responsible for carrying out program activities within the amounts allocated to the organization. Over expenditure of the organization's allocation is not allowed unless specifically authorized by the Budget Office. Account managers should ensure that adequate funds are available before initiating transactions to use funds. Failure to do so could result in a curtailment of services. Expense categories in all funds will be monitored by the Budget Office for deficits.
Allocations can be moved from one organization to another and may be transferred between all expenditure types (PSR, PST, OTPS) with the authorization of the program manager. However, allocations can only be transferred within the same major fund, i.e. State-to-State, IFR-to-IFR, DIFR to DIFR, etc.
Allocation transfers between accounts and/or budget objects can be requested by completing the form found at https://www.binghamton.edu/offices/budget/managing-budgets.html and submitting via email to email@example.com .
If a department would like to transfer allocation between subaccounts within the same parent account, please email firstname.lastname@example.org to obtain instructions and the appropriate request form.
Expenditure transfers are used when an expenditure exists but is in the wrong account, has the wrong sub-object code, or inadequate budget resources are available in that account. Expenditure transfers may cross funds.
The following transfers are not permitted:
- Transfer from a personal service (payroll) expenditure type to a non-personal service expenditure type.
- Transfer from a current fiscal year to a prior fiscal year for the sole purpose of using lapsing funds.
- A transfer that would create a negative expenditure total, except for certain recharge transactions.
- Transfers that would create a deficit in the accepting account.
- Transfers that would distort the NACUBO functional nature of an organization's expenditures.
To request a transfer, send a completed expenditure transfer request form and all relevant supporting documentation via email to email@example.com. All transfers must be made in agreement by all parties affected by the transfer.
Each transfer request must include a justification for the transfer. The following are examples of acceptable reasons for processing an expenditure transfer:
- Distribution of expenses to appropriate accounts.
- Correction of expenses posted in error.
- Chargeback transactions.
- Plant alteration projects.
The request form can be accessed at:
Expenditure transfers are not to be used in place of Allocation, Revenue, or Balance transfers.
The Accounting Office will monitor expenditure transfers for appropriateness and compliance with SUNY and campus policies. If a transfer cannot be processed as requested it will be returned to the requesting unit for further consideration.
State operations deposit funds into state (IFR, DIFR, SUTRA) campus accounts. The deposits are sent to the Student Accounts Office and credited to individual units by the campus Accounting Office. Occasionally, deposits are receipted into the wrong IFR, DIFR, or SUTRA account.
Revenue adjustments are used to move an incorrectly posted revenue entry from one account to another. Revenue Adjustments are also processed for University deposits that are not receipted through Student Accounts Office.
Questions pertaining to incorrectly posted deposits or revenue adjustments should be directed to the Accounting Office at firstname.lastname@example.org
IFR, SUTRA, and DIFR-IFR fund sources operate in a manner similar to a checking account. Revenue is deposited into the account and expenditures are made from the account in accordance with the purpose of the account, stated when it was established. Often a cash balance will accrue in an account which an area may want to use in a different account. If the account purpose allows, available cash balances may be transferred to other accounts within the same fund to supplement balances or provide additional funding. The balance in the originating account (the account from which the funds will be drawn) must be sufficient to cover the transfer amount. Chargeback accounts are not allowed to process balance transfer transactions.
To request a balance transfer send a completed revenue transfer request form and all relevant supporting documentation via email to email@example.com. All transfers must be made in agreement by all parties affected by the transfer.
The request form can be accessed at https://www.binghamton.edu/offices/accounting/transfer.html.