Home » Delta State University Policies » University Policies » Finance and Accounting » Budget Transfers
In order to maintain the University’s fiscal integrity, each University department/division is responsible for administering its approved budget according to University guidelines.
Regular Full-Time: Employees who are regularly scheduled to work one-half time or more (50% time or greater) and whose positions are expected to be active for more than four and one-half months.
EEO6 Classification: seven categories of compensation set by the Equal Employment Opportunities Commission, as follows: 1) executive, administrative, and managerial; 2) faculty; 3) professional non-faculty; 4) clerical and secretarial; 5) technical and paraprofessional; 6) skilled crafts; 7) service/maintenance; and 8) students. Banner salaries and wages accounts are numbered to reflect EEO6 classification.
Salaries: amounts of fixed compensation paid regularly for services. Detail in accordance with EEO6 classification must be followed.
Wages: amounts of compensation for services paid according to contract on an hourly basis. Detail in accordance with EEO6 classification must be followed.
Travel: expenditures for official employee business travel. Major object is divided into sub accounts for in-state individual, out-of-state individual, in-state conference, out-of-state conference, in-state group (team), out-of-state group (team), and out-of-country travel.
Contractual Services: expenditure category encompassing all payments for services for grants, scholarships, and awards; communications and transportation; utilities; public information; rents; repairs and maintenance; professional fees (consultants); and other contractual services such as dues, subscriptions, and computer software.
Commodities: expenditures for tangible, expendible items including maintenance materials and supplies; printing and office supplies; equipment repair parts and supplies; professional and scientific supplies and materials; and other supplies and materials such as clothing, food for persons, seed and plants, and expendable equipment. This category also include merchandise purchased for resale by auxiliary departments.
Capital Outlay Other Than Equipment: expenditures for land, building project contractors, buildings, and library books and materials.
Capital Outlay Equipment: expenditures for capital equipment as defined by the State Property Office. Subcategories include office furniture and equipment; vehicles; medical equipment; data processing equipment; radio and television equipment; scientific equipment; and other equipment.
Transfers: funds categorized as mandatory (lease payments, matching agreements) or non-mandatory (transfers to other funds made at the discretion of the University).
Functions (Budget): The University budget is divided into functions—Instruction, Research, Public Service, Academic Support, Student Services, Institutional Support, Operation and Maintenance, and Scholarships and Fellowships.
PROCEDURES and RESPONSIBILITIES
Each University department or division is allotted a portion of the University budget in accordance with its needs established annually. The budget is divided into seven major object categories—salaries, wages and fringe benefits; travel; contractual services; commodities; capital outlay other than equipment; capital outlay equipment; and transfers. Departments are responsible for spending within the limits of each major object.
If unexpected expenses will cause a department to overspend a budget line item, the department must request a transfer as follows:
· Within Travel – Travel is budgeted as a total under account 7400. As travel monies are spent, they are posted to the proper account (i.e., hotel expenses for an out-of-state conference are posted to account 74310. Transfers are not needed within travel accounts.
· Within Contractual Services – The Contractual Services major object is budgeted by line item. A deficit in a line item must be covered by a transfer from another line item (i.e., a deficit in 75210 Postage could be covered by a transfer from 75230 Telephone Long Distance).
· Within Commodities – Commodities are budgeted as a total under account 7600. Similar to travel, commodities are posted to detail accounts as they are spent. Transfer are not needed within commodities accounts.
· Within Capital Outlay – Capital Outlay accounts are budget by line item and require budget transfers to cover line item deficits.
The above transfer requests within major objects may be accomplished by e-mail or memo to University Accounting.
Transfer requests to move budgeted funds from one major object to another (i.e., funds transferred from Commodities to cover a deficit in Travel) within a department or from one department to another should be made by e-mail or memo to the Director of University Accounting. Departmental budget transfers between functions (i.e., from Instruction to Academic Support) are not allowed.
· Spend within the limits of departmental budget
· Request budget transfers if line item deficits occur
University Accounting’s Responsibilities
· Monitor departmental requisitions to ensure funds are available
· Assist departments with budget information
· Process budget transfers
- Official University Budget