Budget Transfers & Reclassifications
NEW FORM - THIS PAGE IS CURRENTLY UNDER CONSTRUCTION
❖ Budget transfers cover deficit balances within the same fund
❖ A reclassification corrects errors for posted revenue or expense transactions
❖ Always charge expenses to the correct expenditure account, not where you happen to have more funds to spend
❖ Never request budget transfers to correct an improperly posted expense transaction, always request a reclassification
❖ Reclassifications must be corrected in the fiscal year they occur and cannot cross fiscal years
(Note: Student Activity accounts are considered liabilities; therefore, reclassifications and transfers can be performed crossing fiscal years for this fund only!)
NOTE - The form(s) above will print one copy only. Please electronically save and/or copy all forms, supporting documents & receipts for your records as well as those required by your department.
Follow building instructions when sending forms to the Main Office for approval!
BUDGET TRANSFER EXAMPLES
❖ Certain budget transfers are completed at the building level, while others are completed at the District level. Please make sure to comply with any building requirements when processing your budget transfer requests.
❖ A club may wish to donate towards fundraising efforts of another club, or pay the cost of supplies shared with another club. Such cases require a transfer of funds from one Student Activity account to another.
Please circle "CHARGED" for an Expense reclass, (OR) "CREDITED" for a Deposit reclass, as indicated in the examples above to avoid accounting errors
❖ Occasionally an invoice needs to be paid using funds from both a building account and a student activity account. If a paid invoice or deposit was incorrectly charged/credited, then a partial reclassification should be requested to correct the error, not a transfer of funds.
Please circle "CHARGED" for a partial Expense reclass, (OR) "CREDITED" for a partial Deposit reclass, as indicated in the example above to avoid accounting errors
❖ Contact the Finance Department if you have questions or concerns regarding completion of budget transfers or reclassifications