Chapter 2 – Allocation and Transfer of Funds
Allocations or transfers of funds are procedures used to alter budget allocations once the budget has been approved and is in operation.
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.
- Transfer, or payment, of funds to the University of Iowa Center for Advancement. Payments of funds to the UI Center for Advancement from any account in the University are allowed for purposes approved by the University Controller. Payment requests to the UI Center for Advancement 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.
- Cash advances. The University of Iowa Center for Advancement shall not issue cash advances to University employees or students except for fundraising activities.