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Operations Manual The University of Iowa

PART V. ADMINISTRATIVE, FINANCIAL, AND FACILITIES POLICIES

CHAPTER 2: ALLOCATION AND TRANSFER OF FUNDS

(Amended 5/5/95)

2.1 General
2.2 Transfers and Allocations
2.3 The University of Iowa Foundation

2.1 GENERAL.
Allocations or transfers of funds are procedures used to alter budget allocations once the budget has been approved and is in operation. The same form, Request for Transfer or Allocation of Funds, is used for both procedures.
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2.2 TRANSFERS AND ALLOCATIONS.
A budget transfer involves transfer of funds from one account to another within a department or college (or other division) of the University. Fund allocations involve the receipt of additional funds when a college, division, or department has overextended an account and is unable to transfer funds from one of its other accounts. The departmental executive officer indicates the account(s) from which the funds will be transferred and the account(s) to receive the funds. The form is then submitted to the proper dean or director for approval. If approved, it is then forwarded to the appropriate vice president. All transfers or allocations of funds are then sent to the offices of the Senior Vice President for Finance and Operations and the President for approval. If approved, copies are returned as designated in the upper right corner of the form. The Business Office and Payroll receive copies so that the necessary changes may be made in the budget.
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2.3 THE UNIVERSITY OF IOWA FOUNDATION.
(Amended 5/5/95)

(See also V-4.6 Prohibited Cash Advances: Local Sports Clubs; V-12 Equipment and Personal Property of the University.)
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Page last updated June 2014 by Office of the Senior Vice President for Finance and Operations