TTC's Policies and Procedures > Financial Affairs > 6- 5-1 Budget Transfers
6- 5-1 Budget Transfers
TITLE NUMBER APPROVED DATE
BUDGET TRANSFERS 6-5-1 12-1-03
 
BASED ON POLICY NUMBER AND TITLE
     


PURPOSE: To establish procedures for making budget transfers within a department or between departments.

GENERAL: Budgets are established for departments at the start of each fiscal year. In certain circumstances, it becomes necessary for a department to modify a particular category/object code in its budget. Such circumstances may include, but are not limited to, preventing over-expenditures and meeting unusual events.

RESPONSIBILITY: Budget administrators should report anticipated fund deficits to the appropriate level of College management on a timely basis.

If a department is unable to operate within the budget that has been established at the beginning of the year, significant variances should be reported up through the department's organization.

PROCEDURES: Budgets are modified by submitting to the Finance office a Budget Transfer form (T3-86) with appropriate approval by the President or the Vice President or his/her designees. Only those responsible for departmental budgets can request budget changes. The Budget Transfer form must include the reason for the transfer.

RESTRICTIONS:

  1. Available budget funds from vacant faculty or staff positions, including benefits, cannot be used to increase supply-and-expense budgets.
  2. Transfers to and from 56000 (Equipment) require the President's and the appropriate Vice President's signature.  All other transfers require the appropriate Vice President's signature.
  3. Transfers must be made to and from Budget Pool/Umbrella object codes (i.e., object codes 52000, 53000, 54000, 55000).
  4. Transfers are not permitted between restricted and unrestricted accounts.
  5. No budget transfers may be made to or from any object code pools in Professional Development accounts without the President's signature.


Updated June 26, 2009

 

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