How To: Request a Fund Transfer

Who does this?  Department Staff

When?  It becomes apparent that the movement of fund balances is appropriate and necessary.

How?  By submitting an email request to your School / Department Fund Accountant with the required information to process the request

 

 

Request a Fund Transfer (4 steps)

step 1

After determining the need for a fund transfer, identify the source and destination fund:

  1. Identify PFOO account (Project-Fund-Object-Organization) for the debit and credit side of the transaction.
step 2

Review the structure of the source and destination funds:

  1. Ensure that funds are compatible, considering:
    • Similarity of usage restrictions
    • Issues surrounding donor reporting
    • Similarity in processing of such things as burdening and interest
    • University policies regarding combinations of various fund types. Refer to Administrative Guide Policy 3.1.2: University Funds
step 3

Complete fund transfer request:

  1. Compose email request to include:
    • PFOO account (Project-Fund-Object-Organization) for both the debit and credit side of the transaction
    • Amount of fund transfer
    • Justification for the transfer. This should consider the compatibility of both the source and destination funds.
  2. Send email request to your specific School / Department Fund Accountant. For contacts, see the School and Department Contacts for Non-Sponsored Funding.

Note:  A limited number of transactions can be included in the e-mail text. For large volume transactions, submit your request using the iJournals Upload Template.

step 4

Save or print the request and acknowledgement for future reference and reconciling purposes.

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What Happens Next?

  • Requests are reviewed upon receipt. Requesters will be contacted if clarification or additional information is required.
  • Requests are processed throughout the month.
  • Requester will receive a copy of journal for their records.

Questions?

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