How do I know what vacancy savings I have?
The analyst in charge of Position Management sends out biweekly updates on savings balances beginning in the Fall semester, when reallocation plans have been implemented (usually in September but varying depending on the budget process). The savings summary lists a current savings balance, which adds total and projected savings and subtracts funds already committed in reallocation plans (for academic units) and on savings targets.
How can I access my savings from vacant lines?
Send requests for allocation moves to the Budget office. Savings moves are handled by the analyst in charge of Position Management.
Can I use vacancy savings to hire a new employee?
Vacancy savings can be used for Temporary Service appointments but not for PSR appointments.
Can I move vacancy savings allocation to my IFR account?
Savings accrue on state and DIFR lines and funds cannot be moved between state, DIFR and IFR accounts. To use up savings and generate IFR balances, charges can be moved from IFR accounts to state accounts, where savings allocation can be used to cover them. In certain circumstances, savings balances can be rolled forward into an IFR account at the end of the fiscal year.
What can I do if I have savings left over at the end of the fiscal year?
In certain circumstances, we can roll over state savings balances into IFR accounts. For smaller balances, we recommend moving expenses to use up your savings.
I forgot to list vacant line 123 on my reallocation plan. Will I still get savings from that line?
Yes. Savings run based on vacant lines in PeopleSoft. The process is independent from the reallocation plans process.