General University Reference Utility
To present the University regulations pertaining to the budgeting of Allocation Funds.
The budget of each major area may include an amount known as an Allocation Fund, established to meet changing requirements and emergencies within the existing budget during the current fiscal year. The fund will be considered as a memorandum budget available for allocation at the discretion of the budget executive to any section of his/her administrative area, subject to the following rules.
Transfers from an Allocation Fund may be made on a temporary or permanent basis in conformity with regular budget regulations. Allocations to cover standing salary provisions must be made on a permanent basis at annual rates, but unused portions of salaries in the position may be transferred temporarily to the Allocation Fund.
Differences in annual salaries resulting from hiring replacements for standing or fixed-term multi-year positions at salaries lower than those in the budget for the position, may be transferred to the Allocation Fund. The amount needed in the budget to cover actual salary expenditures from the position during the year at the higher annual rate up to the date the replacement is hired, may be provided by a temporary transfer from the Allocation Fund.
Requests for permanent transfer of funds to other administrative divisions will be routed (via budget amendment form) to the University Budget Officer for consideration and approval.
For questions, additional detail, or to request changes to this policy, please contact the University Budget Officer.
Most Recent Changes:
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