Fund transfers allow schools and departments to move resources between eligible university funds. A fund transfer request is submitted to your school or department fund accountant by email.
Request a Fund Transfer
Before You Start
Verify the following:
- Funds are available to cover the transfer. For transfers out of an operating budget award, ensure sufficient general funds are available to cover the transfer.
- Fund types are appropriate for the intended transfer.
- The fund transfer is consistent with the terms of both the source fund and destination fund, as reflected in the respective fund authorizations.
- At year-end, any unused restricted funds (such as expendable gift funds or endowment income) that were transferred into an operating budget are returned to their original funding source.
- Identify Project-Fund-Object-Organization (PFOO) account for the debit and credit side of the transaction
- Ensure funds are compatible by considering:
- Similarity of usage restrictions
- Donor reporting requirements
- Similarity in processing burdening and interest
- University policies governing fund combinations. Refer to Administrative Guide Policy 3.1.2: University Funds for guidance.
- Email your fund accountant, including in the email:
- PFOO account (for both the debit and credit sides of the transaction)
- Amount of fund transfer
- Justification - a short explanation containing WHO, WHAT, WHERE, WHEN, AND WHY so someone unfamiliar with the transaction can understand its purpose and appropriateness
- Email request to your specific school or department fund accountant
- Select and download the appropriate Excel template:
- Complete the template by entering each fund transfer as a two-line pair, one line for debit and one line for credit, including on each line:
- PFOO account (for both the debit and credit sides of the transaction)
- Amount of fund transfer
Justification - a short explanation containing WHO, WHAT, WHERE, WHEN, AND WHY so someone unfamiliar with the transaction can understand its purpose and appropriateness
Line description - include the source or destination award number and name, and a brief description to help the reader understand the transfer (limited to 240 characters).
- Email the template to your specific school or department fund accountant
Some business units have been authorized to upload their own bulk fund transfers. Refer to How to: Upload a Bulk Fund Transfer in iJournals.
- Requests are reviewed upon receipt. Requesters are contacted if clarification or additional information is required.
- Requests are processed throughout the month.
- Requesters receive a copy of the journal for their records.
- Transfer posted to the PFOO is verified using the OBI Revenue and Fund Management Dashboard>Transfer Detail Report
Learn more in the Learn About System: OBI Financial Reporting.