- Budget Adjustment Form
Send completed and approved form to Erin Byrne.
Regarding purchase orders- if a department's tentative purchase has encountered a budget error, please use the budget adjustment form to move sufficient budget from another budget area within your department to cover the purchase.
When to Use What Form
Taking some of your spending authorization and giving it to someone else. Result- you have less to spend and the recipient has more. Also, within your own budget, moving funds available dollars between line items to allow for spending that is different from your original plan.
When to use a Budget Adjustment form:
- Reallocating spending authorization within your own budget.
- Sharing of an expense between other departments for an event.
Internal Transfer of Funds Request
The Internal Transfer of Funds Request form is used in cases where funding from an unrestricted operating account (accounts starting with 11) is moved to another type of unrestricted account (accounts starting with 12 or 13). For transfers between unrestricted operating accounts (both accounts starting with 11), refer to the Budget Adjustment section above.
When an expenditure paid to a 3rd party (not Loyola) has been posted to a wrong account, an Expenditure Transfer removes that expenditure from the incorrect account and places it in the correct one.
When to use an Expenditure Transfer form:
- To move incorrectly posted/coded expense from one GL to another.
- To allocate 3rd party expense ALREADY incurred to other departments. Example: Printing Charge Backs.
When revenue receive from a 3rd party (not Loyola) has been posted to a wrong account, a Revenue Transfer removes the income from the incorrect account and places it in the correct one.
When to use a Revenue Transfer form:
- To move incorrectly posted/coded income from one GL to another.
- To allocate 3rd party income ALREADY received to other departments.