Budget Transfer

POLICY #: FA 90-26A

DATE OF BOARD OF TRUSTEES APPROVAL:  February 15, 2001

RESOLUTION #: 90-26, 90-26A, 11-03, 19-19

POLICY STATEMENT:  The Board of Trustees designates to the President of the College the authority to approve transfers of appropriations from one function or object of expense account to another within the total college operating budget.  Written justification shall be maintained to support and control all budget transfers, except for those for which budget managers have been granted authority to process online.

BACKGROUND:  This is an update of Board Policy G, VIII, Finance Budget Control (90-26), dated 5/16/1991.  The attached budget transfer policy and procedure has been developed to control this process.

The attachment to this policy was amended in 2012 by revising #4 under ‘Policy’ to read “The President must also approve all budget transfers involving full time personnel,” and also to remove #’s 1, 2 and 3 under ‘Procedures’ and replacing them with the single statement: “An electronic budget transfer request form is required to be completed and submitted in Banner for all budget transfers.  The Banner system will route transfers accordingly to the appropriate individuals for electronic approval.”

This policy was updated in April 2020 to include an exception to the maintenance of written justification and to reflect current procedures.

Revised:  2/15/2001, 1/19/2012, 4/15/2020