Medical College of Georgia Administrative Policies and Procedures
Office of Primary Responsibility: Business Services Division
No. 1.2.06

Expenditure Transfers

Purpose
To provide a procedure to request the transfer of expenditures from one account (Budget Unit) to another account (Budget Unit).

Policy
Transfers are necessary for many reasons, i.e., wrong account charged, over expenditures, late awards, etc. All requests to transfer expenditures from one account to another should be submitted on the Certification of Transfer Form (PS 886) which can be obtained from Business Services - Financial Accounting Section.

Procedure

Transferring Budget Unit

1. Prepare three copies of the Certification of Transfer Form as follows:
   1. Supplies, Travel, and Equipment
      1. From account - Enter the account originally charged.
      2. To account - Enter the account to be charged.
      3. Date - Indicate the date the item first appeared on the computer- generated "Departmental Expenditures and Budget Status Report," AC 250.
      4. Description - Give the check number, order number and item number if available.
      5. Object Code - If object code is to be changed, please indicate new object code, along with account number at the top of the page. Otherwise, list the object code under which this item appears.
      6. Cost - Enter the amount to be transferred.
      7. Purpose of transfer - Describe why transfer is necessary, i.e., over expenditure, wrong account number used, etc.
   2. Personal Services - Use PR-241 to obtain necessary information.
      1. From account - Enter the account originally charged.
      2. To account - Enter the account to be charged.
      3. Date - indicate the date of the Personnel Budget and Expense Report being used.
      4. Description - Enter the Department and Position Numbers involved.
      5. Object code - Enter the personal service object code, 511000.
      6. Cost - Enter the amount to be transferred.
      7. Purpose - State reason for transfer, employee's name, social security number and the period the expense covered.
2. Sign and date the Certification of Transfer Form. Forward three (3) copies to receiving unit.

Receiving Budget Unit

3. Review for acceptance of transfer, sign and date Certification of Transfer Form.
4. Send to the Sponsored Accounting Section of the Business Services Division if sponsored project account is involved, or forward to the Financial Accounting Section of the Business Services Division for institutional accounts. Maintain one copy for files.

Sponsored Accounting Section

5. Check the propriety of the transfer and indicate Business Services Division approval. Journalize expenditures and return one copy to the transferring Budget Unit and attach one copy to Journal Entry for backup.

Financial Accounting Section

6. Journalize the expenditures, return one copy to Business Services Division the Transferring Budget Unit and attach one copy to Journal Entry for backup.

Date: 1 July 1972 | Rev. No: 86-1 | Rev. Date: 10 June 1986 | No. 1.2.06