Budget & Payroll

20.06         Clearing Budget Deficits                                                              Issued: May 15, 1998

1.    Primary responsibility for ensuring the budgets are not over-expended rests with the budget
       manager.

2.    The Budget Office is responsible for helping to ensure that budgets are not over-expended.
      When an over-expended account is identified, the following steps will be taken (in the order
       listed) to identify other funds to clear the deficits.

       2.1     Identify other available program or departmental funds

       2.2     Identify available college funds

       2.3     Identify available funds under the direction of the Vice President

       2.4     Identify available institutional funds

3.    After funds have been identified, the Budget Office will work with the department head,
       dean/director, vice president or president (as appropriate) to make the necessary transfers of
       funds or expenses to clear the deficits. If a transfer of funds is required, a Budget Transfer
       Request form will be completed and processed through the requisite procedures. If a transfer
      of expenses is required, the Budget Office will initiate the appropriate journal entry and
       submit it to the Accounting Office for processing.  

Contact:     Senior Staff Accountant in Budget Office