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- 8xxxxx: Appropriations and Transfers
8xxxxx: Appropriations and Transfers
This series of G/L accounts should be used to record appropriations and transfers between Duke University cost objects. The cost objects in the transfer determine the appropriate G/L account to be used. When an G/L account in this series is used, it must be used on both the debit and credit side of the transaction!
THESE G/L ACCOUNTS SHOULD NOT BE USED TO RECORD:
- Transfers from one cost object to another to correct errors in a previous transaction - debit and credit the G/L account used in the original transaction.
- Transfers to cover overdrafts on grants and contracts (cost objects 30x-35xxxxx or 38xxxxx).
- Transfers from one cost object to another to record services provided by one department to another. Refer to 7xxxxx, Recharges and 7500xx-7538xx, Expense Credits.
- Transfers of equipment between departments - use G/L account 750900 for both the debit and credit.
- Temporary loans between cost objects. Refer to 1481xx-1487, Due From Other Funds and 22xxxx, Due to Other Funds.
II. DEFINITIONS OF TERMS
An appropriation is an action by the University's Board of Trustees assigning a portion of the Current Unrestricted Fund revenues to another cost object group. Requests for appropriations are usually included in the current fiscal year budget, so that approval by the Board of Trustees is made when the Board approves the budget. Requests for the Board of Trustees should refer appropriations not included in the budget to the Vice President, Financial Services for presentation to and action.
In accordance with the terms of the National Defense Student Loan Act, the University is required to match a portion (1/3 for fiscal year 94/95) of this revenue received from the government. Because the loan funds are in cost object 5221401 (the loan fund series), the Board of Trustees must approve an "appropriation" from the Current Unrestricted Funds to the Loan Fund 5221401. G/L account 801500, Appropriation/Transfer Between Current Unrestricted and Loan Funds, would be used.
A transfer reallocates funds from one cost object to another.
A department is organizing a lecture series. They are collecting funds from other departments in order to pay for the cost of the series. The department contributing the funds should do a transfer from their 45xxxxx code to the receiving department’s 45xxxxx code using G/L account 800100. Transfers are ONLY allowable on current unrestricted funds 1xxxxxx with prior approval from the appropriate management center.
III. G/L ACCOUNT DEFINITIONS
Please see the Capital Budgeting Office website for the list of appropriate G/L accounts to use when making transfers to or from a capital project.
The following WBS elements are used for capital projects:
721xxxx Medical Center Projects
722xxxx University Projects (excluding Medical Center )
723xxxx Infrastructure Projects
752xxxx Deferred Maintenance on University Buildings
753xxxx Americans with Disabilities Act
754xxxx Utility Company
755xxxx Utility Company – Capital Renewal
This G/L account is used to transfer from one cost object to another within the same cost object group, (example: transfer from 4511234 to 4521233). This G/L account can not be used to record a Capital Project Transfer.
This G/L account is used to transfer from one cost object to another within the same cost object group (example: transfer from 4511234 to 4521233). This G/L is only used to identify transfers of funds between departments within the same School. Example: Transfer between Department of Medicine and Department of Surgery.
This G/L account is used to transfer from one cost object to another within the same cost object group (example: transfer from 4511234 to 4521233). This G/L is only used to identify transfers of funds between Schools. Example: Transfer between School of Medicine and School of Nursing.
This G/L account can be used for industry project payments between Duke entities. This also is used for site payments between a coordinating center and site for reportable and non-reportable projects.
This G/L account can be used for industry project payments between the same Duke entity. This also is used for site payments between a coordinating center and site for reportable and non-reportable projects where they fall in the same unit.
To appropriate or transfer funds from the Current Unrestricted funds to the Current Restricted funds (1xxxxxx to 3xxxxxx) or To transfer between the Current Unrestricted-Allocated funds and the Current Restricted funds (4xxxxxx to 3xxxxxx). Exception: You can not use this object on a grant/contract (cost objects 30x-35xxxxx or 38xxxxx) - use G/L account 696700 or 696800 to record transfers to cover overdrafts on grants and contracts.
This G/L account is used to transfer cost shared salary from the WBSE where the salary were incurred and recorded to the cost object which is actually paying for the salary.
This G/L account is used to transfer cost shared fringe benefits from the WBSE where the charges were incurred and recorded to the cost object which is actually paying for the fringe benefits.