Budget Transfers

Budget transfers and corrections are different from transaction transfers and corrections.

• Transaction Corrections correct a transaction that has already occured, such as a purchase that was charged to the wrong account. That represents a correction - and there's a distinct process for that within *Define (See *Define VT6).
   
• Budget Corrections aka Intra-Account Rebudgeting: Transferring or correcting an existing budget involves moving unspent funds within an account so that the funds are arranged in specific spending categories (subaccounts), such as salary, fringe benefits, travel, etc. This is accomplished via the FRMS transfer function. (See FRMS Budget Transfer Instructions)
   
  • For sponsored awards, there are often rules regarding which type of funds can or can't be adjusted, how much can be moved around within the account or within specific spending categories. Some accounts don't have any limitations, others do. (See *Define CA3)

 

Inter-Account Transfers - From One Account to Another

Transferring some or all of the funds from one account to another represents a Budget Group Transfer. 

This typically happens with certain types of gift funds (30 accounts) and state funds (aka appropriated, instructional, education and general funds, 14 and 20 accounts). 
See: Types of Accounts (opens in new tab)
 

• The university has very specific policy for Budget Group Transfers, including rules about allowability and purpose, and all transfer activity is controlled by Object Codes that 'live' inside of each subaccount and determine types of allowable costs. --the object codes have to match to allow for these types of transfers, assuming transfers are at all allowable on the account. 
   
• Budget group transfers are unallowable with sponsored funds. Behind each sponsored project, there's a fully executed contract with clear terms & conditions that prohibit this activity. 

1. Log into FRMS, step through DUO Authentication
    
2. Click on Transfer in the nav-bar across the top of the site
    
3. Click on Create in the sub nav-bar
    
4. Fill in purpose field
   • For sponsored funds, example: 'Moving funds to cover project-related (or research-related) costs'
      
5. Select which type of transfer: sponsored or non-sponsored
    
6. Effective date can be changed, though it's rarely used
    
7. Change Creator Desk available only if assigned to more than one desk in *Define
    
8. The Read & Confirm statement references your understanding and compliance with the university's Direct Cost policy. The link in the transfer process is broken, but if you need to familiarize yourself with the policy, it's here. 
    
   • Upon selecting 'I agree,' you land on the first of four areas in the transfer document: 
     • General
     • Transfer Groups
     • Transactions
     • Document Review
        
   • At this point, you can see a summary at the top of the document that contains:
     
     Document ID: 90VTC######
     Document Status: CREATED
     Creator: Your Name
     Created: MM/DD/YYYY
     Summary: Moving Funds to cover research-related project costs
     Transfer ID: TRF######
     Creator Desk: Your *Define Desk
     Effective Date: MM/DD/YYY

 9. The next section is called Transfer Information. It contains the transfer ID (different from the Doc ID), the effective date (which you can still change if needed), the stated purpose, which can also be changed, and then a blank field for comments.
 

• In the comment section, it isn't necessary to go into a great deal of detail, but any extenuating circumstances should be included here, if applicable, and mention of PI approval for the transfer should be stated here. 
   
• Note: If a PI requests the transfer being processed for specific need/purpose, reference that in the comments.
  
  If the transfer is a result of the admin and PI having a general understanding that admin should process transfers as and when needed in order to keep the account in good health (no negative balances), in concert with any team planning and budget projections being done, then the comment regarding PI approval can be phrased as 'Per PI, transferring funds to ________________.
   

10. At this point, either Save & Verify or Save & Continue. FRMS will provide an explanation for anything that needs correcting.

• Just below this section is a place to upload documents - this is the place to upload written approval from the sponsor (if applicable) so that the Pre-Award Specialist will be able to approve the request and retain the approval on file, which is required.
   
• Upon hitting Continue, you'll move into the second area of the transfer document: Transfer Groups 
   

11. Add your transfer group by starting off with a description, such as 'from Misc sub to Fringe sub' to identify the specific transfer activity happening for this group - you're labelling the subaccounts to keep them straight.  

12. Enter the full 10-digit account numbers you're transferring from and to, followed by the amount.

13. Click enter and you'll see details about each of the subaccounts populate inside of that transfer group including the pooled amount, which is the free balance. 

• If you use dept codes for tracking and reporting, you'll see the hotlink for adding them at this same place. 
   

14. You can add more transfer groups, if needed. You'll also need to add a transfer group for moving F&A funds, if it's the case that you are transferring funds that have differing indirect cost (IDC) exempt and non-exempt status, you'll need to ensure you calculate the IDC portion correctly prior to approving forward.

15. Once you've entered all the transfer groups needed, manually click on the third area that appears in the left-side panel of the page: Transactions

• This is where you check your math and make sure everything appears as you need it to. 
• If all is correct, manually click on the fourth and final area of the transfer document: Document Review
   

16. From the Document Review area, you can review the entire document.

• Click on the Verify Document button. If the document is correct, a message in green text appears in the top left corner that states, 'The document has been successfully verified.' At which point, you are ready to click on the Approve Document button to forward it to its next approver.
  • You can see the desk and approver information in the router history box, which updates as the document clears each approval level.
     

17. Under the Verify Document button is a dropdown menu that gives you additional choices, it needed, including:

• CPY - Copy to a New Document (which is helpful if you are doing multiple similar transfers)
• FYI - To send an information copy to someone
• FYA - To approve and route to a specific person
• DEL - For deleting a document
• REC - Recall to my inbox
  • This requires a reason be input into the small box -something like 'Need to correct amount' will do.
     

18. You'll receive an email confirmation once the transfer goes through.

• Your PI will get this same confirmation message
   
  • Consider proactively forwarding that same message to your PI along with a short explanation to let them know what it is, to ensure they remain informed. 

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