Account managers generally have a wide degree of latitude in administering budgeted self-supporting accounts. Questions often arise regarding routine matters. Following are answers to frequently asked questions about budgeted self-supporting accounts:
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How do I activate a revenue source or expenditure object code in my self-supporting account? |
Via an e-mail to the Budget Office, request the appropriate action. Indicate the account number and the codes you need activated. Under normal conditions, the Budget Office can activate source and object codes within one business day.
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How do I move budget from one expenditure object to another? |
Within a given account, it may be necessary to transfer budget from one object to another. For example, it may be necessary to transfer budget from reserves (line 79) to operations (line 30) in order to pay operating expenses. Please note that it is not possible to move budget from a revenue source code to an expenditure object code. Via an e-mail to the Budget Office, request the transfer. Indicate the account number, the amount of the transfer, and the relevant object codes. Under normal conditions, the Budget Office can complete the transfer within one business day.
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How do I move cash from one self-supporting account to another self-supporting account? |
Transfers of cash between self-supporting accounts entail charging the expenditure VT (voluntary transfer) line of one account and crediting the revenue VT line of another account. An account to account transfer is accomplished through an IDR (interdepartmental requisition). The IDR should be sent to the Controller's office. The expenditure VT line in the account being charged must have enough available budget to allow the transfer to be completed.
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What is a transfer reject? |
A transfer reject can occur when you attempt to transfer cash from one self-supporting account to another. Transfer rejects usually occur because the account you are transferring from either does not have an expenditure VT line, or it has an expenditure VT line lacking budget equal to the transfer amount. When a transfer reject occurs, the Budget Office will send you an e-mail. This e-mail will provide details about the transfer reject and ask how you would like to proceed. Transfer rejects can usually be corrected within two business days.
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What if it appears that revenue or expenditures in my budgeted self-supporting account will deviate from what I budgeted? How do I revise my self-supporting budget? |
The total amount of budgeted revenue and budgeted expenditures must be equal. For example, if you have a revenue budget of $30,000, then your expenditure budget must equal $30,000. A budget revision is necessary when it appears that actual revenue will be significantly different from what was originally budgeted. If a budget revision is necessary, submit a Revision of Self-Supporting Budget form to the Budget Office. Remember that any increase or decrease in your revenue budget must be accompanied by a similar increase or decrease in your expenditure budget. The Current Budget column on the Revision of Self-Supporting Budget form should reflect any budget revisions that have already been processed, not the original approved amount. Ensure that all necessary signatures have been acquired before submitting the form to the Budget Office. Please note that special regulations apply to budget revisions that exceed ten percent of expenditures. If you anticipate such a revision becoming necessary, contact the Budget Office. Under normal conditions, the Budget Office can complete budget revisions within two business days after receipt of a properly completed budget revision form. All budget revisions are forwarded to the Chancellor's office for review.
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How do I establish a new budgeted self-supporting account? |
Care should be taken to ensure it is necessary to establish a new account. If the proposed account can be managed within an existing account, the proposed account will not be established. To establish a budgeted self-supporting account, contact the Controller's office and request that a new account be established. The Controller's office will inform the Budget Office of your request. The Budget Office will review the request to determine if the proposed account is necessary. If the proposed account is necessary, the Budget Office will contact you and request that you complete the appropriate Self-Supporting Budget forms. Completion of these forms requires that you indicate in detail the source and use of funds for the proposed account. Under normal conditions, the Budget Office can establish a budgeted self-supporting account within two business days after the receipt of all necessary forms.
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Where does my cash go at the end of the fiscal year? |
Cash remaining at the end of a fiscal year becomes the opening balance in the next fiscal year. It will appear on your FIMS report as "Beginning Balance" and in the APP2 table of ADVANTAGE as "Current Modified APPR".
If you do not want your account to be active in the next fiscal year, contact the Budget Office and provide the name and number of the account you wish your remaining cash to be transferred to.
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