Fund transfer requests are submitted to school or department fund accountants. Follow the steps below to include all necessary information in your email request.
Request a Fund Transfer
Before You Start
Verify the following:
- Funds are available to cover the transfer. In addition, for transfers out of an Operating Budget award ensure that there are sufficient general funds to cover the transfer.
- Fund types are appropriate to accomplish the 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 (e.g., expendable gift or endowment income funds) transferred into an operating budget must be returned to the original source.
- Identify Project-Fund-Object-Organization (PFOO) account for the debit and credit side of the transaction
- 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
For requests of 1 or 2 fund transfers using email
- Compose email request to include:
- PFOO account for both the debit and credit side of the transaction
- Amount of fund transfer
- JUSTIFICATION - Include the WHO, WHAT, WHERE, WHEN, and WHY so that a person that is not familiar with the transaction can understand the purpose and appropriateness of the transaction
- Send the email request to your specific school or department fund accountant
For more than 2 fund transfer requests using email and Excel template
- Download the appropriate template below to Excel:
- Complete the template by entering the fund transfer information in two-line pairs for the debit and credit to include:
- PFOO account
- Amount of fund transfer
- JUSTIFICATION - Include the WHO, WHAT, WHERE, WHEN, and WHY so that a person that is not familiar with this transaction can understand the purpose and appropriateness of the transaction
Line description including the source or destination award number and name, and a brief description to help the reader understand the transfer (limited to 240 characters).
- Send the email request with template to your specific school or department fund accountant
For bulk (more than 20) fund transfers using iJournals upload
Certain business units have been granted the ability to upload their own bulk fund transfers. Refer to How to: Upload a Bulk Fund Transfer in iJournals.
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.
- 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
For information about OBI, refer to Learn About: OBI Financial Reporting.
