Sent to AFS-Update on June 29, 2022
Auxiliary and sales & service units who want to record transfers to/from reserve funds for the 2021-22 fiscal year should send requests to the General Accounting team no later than 5 p.m. on Friday, July 15. 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 15.
Reserves (Non-Auxiliary)
- Official Recharge Activities can fund reserves for similar reasons to auxiliaries – when accumulating reserves for future year expenses is appropriate.
- Official Recharge Activity should use fund 76390 for reserves.
- 76390 should be used by official Recharge Activities only (units that require annual Accounting & Fiscal Services review). If you don’t know if you have an Official Recharge Activity in your area, or you’re interested in starting a new one, contact the Costing Policy and Analysis unit.
- Requests should be sent via Excel template to Accounting by 5 p.m. on July 15.
For questions about reserves, please contact Victor Cesario in General Accounting.