Expenditure Transfer

 Occasions arise when it is necessary to transfer an expense from an account to one or more other account(s). Expenditure transfers are initiated by the account manager through a memorandum submitted to the Accounting Office. The memorandum should indicate the following:

  1. Date of Request
  2. Amount of Expense Being Transferred
  3. Account Transferring Expense
  4. Account Receiving Expense
  5. Reason for Transfer
  6. Authorized Signature of Account Transferring Expense
  7. Copy of Memorandum to Account Manager Receiving Expense

The account transferring the expense must have expenses in the object equal to or greater than the amount being transferred. Likewise, the account accepting the expense must have adequate allocation in the appropriate object to accept the expense. Accounts will not be placed in deficit to accept an expense transfer.

The following types of expense transfers cannot be done:

  1. Transfer from one object to another object (e.g. Temporary Service to Supply and Expense). 

  2. Transfer from current fiscal year to unexpended funds of the prior fiscal year. 

  3. Transfers to charge allocations in one fiscal year even though the costs were incurred in another fiscal year. 

Each transfer request must include a reason for the transfer. Following are acceptable reasons for processing an expenditure transfer:

  1. Distribution of temporary service payrolls. 

  2. Distribution of expenses to appropriate account or project. 

  3. Corrections of items erroneously posted to account. 

  4. Chargeback transactions. 

  5. Recharge transactions between IFR accounts. 

  6. Plant alteration projects (Section II-E).