Budget Update

 

BD05 versus F241    

 

BD05 is a Temporary Budget revision and F241 is a Permanent Budget revision.  When moving funds within budgets or from one budget to another one must consider the purpose.  Do you need to cover a one-time expense then BD05 is appropriate.  On the other hand, if you need to cover a recurring expense such as annual dues, annual memberships, annual subscriptions etc… then F241 is appropriate. 

 

Any one time temporary transfers from the Budget Office, that you need to move to another sub account please use BD05.

 

All funds transferred from sub account 65710 Special Lab Fees, should be done so using a BD05. 

 

When the budget is “rolled” for the next fiscal, funds moved using a BD05 will revert back to the sub account they were transferred from and any funds moved using an F241 will stay in the sub account they were transferred to.

 

As we begin the new Fiscal Year, it is a good time to review your previous year’s expenditures and make any permanent changes that seem appropriate using F241.

 

Please look for the announcement in UNotes about our monthly Banner Walk-in-Clinic held in Accounting the 2nd Tuesday of each month, at 11:30 to 1:00.

 

If you have any questions, please feel free to call Pam Frazier at extension 5109.