Budget Transfers

On occasion, a Budget Unit Head finds it necessary to request a transfer of funds from one expense pool category to another.

Example: A department head approves a requisition for the purchase of a personal computer. The expenditure is charged to the "Equipment" (76000) pool category. Should the Purchasing staff (upon attempting to encumber the funds) discover that the equipment pool does not have sufficient funds for the purchase, the Budget Unit Head may want to transfer funds from the "Contractual Expenses" (70000) pool to the "Equipment" (76000) pool category.

The budget transfer request form must be completed and signed by the department head and forwarded to the respective Vice President for approval. If approved, the Vice President will sign and forward the request to the Budget office where it will be input into the system. You can obtain a Budget Transfer from by clicking on “employees” from the MCC Web Page, Forms, Budget Office.

Levels of approval for transfers are as follows:

Amount/Type of Transfer

Approvals Required

Transfer requests of less than $20,000 between Personal Services (61000) and other expenditure categories.

Appropriate Vice President and President

Transfer requests of less than $20,000 between Equipment (76000) and Contractual Expense (71000)

Appropriate Vice President

Transfer requests of $20,000 or greater, or transfer requests from one pool category to another pool category of $20,000 or greater

Appropriate Vice President, President and Board of Trustees

Note: Transfers are not permitted between Professional Development (75000) and other categories.

Budget Pools

Personal Services (61xxx)

This expense pool contains the cost for faculty, staff and student aides who are remunerated through our payroll system and who, as employees are subject to applicable taxes and other deductions.

Employee Benefits (62xxx)

This expense pool includes the employer's costs of fringe benefits for all appropriate personnel. These costs accrue as a result of governmental regulations and/or collective bargaining agreements and as such, are not under the control of the budget unit head.

Equipment (76xxx)

This pool consists of funds for the purchase of capital assets costing $2500 or more.

Contractual (70xxx)
Professional Development (75xxx)

These pools include operating expenses as well as consultants and temporary help.

Care should be taken when ordering goods and services to properly code specific expense types using the proper expenditure sub-code.

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