This section provides information useful for administering College accounts. It describes how to move funds within and between accounts and outlines an account manager's responsibilities regarding the activity that takes place in an account.
At the beginning of each fiscal year, funds are allocated to College accounts in accordance with the College's financial plan.
Allocation is assigned to accounts in three objects: Personal Service (PSR), Temporary Service, and; Other Than Personal (OTPS). Account managers are responsible for carrying out program activities within the amounts allocated to the objects. Over-expenditure of the object allocations is not allowed. Account managers should ensure adequate funds are available in the appropriate object before initiating transactions to use the funds. Allocation transfers are allowed from one account to another within the same fund but are not allowed between funds for example between a state account and an IFR account.
Funds can be transferred into accounts or between objects through allocation transfers. Transfers should be requested by sending a memorandum or an e-mail to the campus' Budget Office.
Occasions arise when it is necessary to transfer an expense from one account to another account. Expenditure transfers are initiated by the account manager via memorandum or e-mail submitted to the Budget Office. The e-mail should indicate the following:
The e-mail should be copied to the Account Manager of the account receiving the expense. The transfer will only be made after the Budget Office receives an e-mail from the receiving Account Manager concurring with the transfer.
The account transferring the expense must have expenses in the object equal to or greater than the amount being transferred. Likewise, the account accepting the expense must have adequate allocation in the appropriate object to accept the expense. Accounts will not be placed in deficit to accept an expense transfer.
The following types of expense transfers cannot be done:
Each transfer request must include a reason for the transfer. Following are acceptable reasons for processing an expenditure transfer:
Personnel actions are to be initiated, documented, approved and processed via Purchase College's HRETS system. The Human Resources website can be found at https://www.purchase.edu/Departments/humanresources/default.aspx
The College’s Internal Control website can be found at https://www.purchase.edu/Departments/BusinessOffice/internal%20control/internalcontrol.aspx