Chapter 2 – Allocation and Transfer of Funds

(Amended 5/5/95; 9/17)

Effective September 2017, this policy has been revised. For individual changes, see the redlined version. 

2.1 General

(Amended 9/17)

Effective September 2017, this policy has been revised. For individual changes, see the redlined version of  V-2.1.

Allocations or transfers of funds are procedures used to alter budget allocations once the budget has been approved and is in operation. 

2.2 Transfers and Allocations

(Amended 9/17)

Effective September 2017, this policy has been revised. For individual changes, see the redlined version of V-2.2.

A budget transfer involves transfer of funds from one account to another within a department or college (or other division) of the University. Fund allocations involve the receipt of additional funds when a college, division, or department has overextended an account. The departmental budget officer indicates the account(s) from which the funds will be transferred and the account(s) to receive the funds. Supplemental allocations are made with the approval of the Budget Officer in the Budget Management (Web Budget) application. 

2.3 The University of Iowa Foundation

(Amended 5/5/95; 9/17)

Effective September 2017, this policy has been revised. For individual changes, see the redlined version of  V-2.3.

  1. Transfer, or payment, of funds to The University of Iowa Foundation. Payments of funds to The University of Iowa Foundation from any account in the University are allowed for purposes approved by the University Controller. Payment requests to the University of Iowa Foundation are reviewed, and the purpose is verified to the preapproved list by Accounting and Financial Reporting. Payment requests for greater than $10,000 or for a purpose other than those on the preapproved list must be approved by the University Controller. 
  2. Cash advances. The University of Iowa Foundation shall not issue cash advances to University employees or students except for fundraising activities.

(See also V-4.6 Prohibited Cash Advances: Local Sports Clubs; V-12 Equipment and Personal Property of the University.)