Request Transfers to/from Reserves by July 17

Sent to the AFS-Update Mailing List on June 27, 2019

Auxiliary and sales & service units who want to record transfers to/from reserve funds for the 2018-19 fiscal year should send requests to the Accounting Department no later than 5 p.m. on Wednesday, July 17. Transfers should be requested using this Excel Template. Both auxiliary and sales & service units should use the same template, but please note the following:

Reserve Funds (Auxiliary Enterprises)

  • It may be appropriate for an auxiliary to accumulate reserves intended to be utilized (expensed) in future years (example: expected capital renewal/replacement costs)
  • Auxiliaries are assigned specific fund numbers for reserves
  • Requests should be sent via Excel template to Accounting by 5 p.m. on July 17

Reserves (Non-Auxiliary)

  • Sales & service units can fund reserves for similar reasons to auxiliaries – when accumulating reserves for future year expenses is appropriate
  • Sales & service units should use fund 76390 for reserves
  • 76390 should be used by official sales & service units only (units that require yearly Budget Office review). If you don’t know if you are a sales & service unit, or you’re interested in starting a new one, contact the Budget Office.
  • Requests should be sent via Excel template to Accounting by 5 p.m. on July 17

For questions about reserves, please contact Victor Cesario in General Accounting.

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