3500-3599 Series: Transfer-in Accounts
| The transfer-in accounts 3502 through 3596 run in conjunction with the transfer-out accounts 7502 through 7596. Transfer entries must be done on a one to one basis. For example, if institutional account 3570 is credited, institutional account 7570 must be debited for the same amount. In order to provide a proper audit trail, the journal entry description must follow a strict format to allow cross referencing of journal entries. The journal entry description field is defined as follows: | ||||||||||
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| 3502 - M Tfr Stdt Fees Debt Serv | |
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| The movement of Student Fee moneys between funds as mandated by bond resolution or other legal agreements, typically from operating funds in Current Funds Unrestricted to Retirement of Indebtedness Plant Funds. (Must be recorded with account 7502 M/TFR:STDT FEES/DEBT SERV) |
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| 3505 - M Tfr Non Stdt Fees Debt Serv | |
| The movement of Non-student Fee moneys between funds as mandated by bond resolution or other legal agreements, typically from operating funds in Current Funds Unrestricted to Retirement of Indebtedness Plant Funds. (Must be recorded with account 7505 M/TFR:NONSTDT FEES/DEBT SERV) |
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| 3510 - M Tfr Renewals and Replacement | |
| The movement of moneys between funds as mandated by bond resolution or other legal agreements, typically from Current Funds Unrestricted to Retirement of Indebtedness Plant Funds. (Must be recorded with account 7510 M/TFR:RENEWALS AND REPLACEMENT) |
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| 3515 - M Tfr Capital Improvements | |
| The movement of moneys between funds as mandated by bond resolution or other legal agreements, typically from Current Funds Unrestricted to Retirement of Indebtedness Plant Funds, specifically for capital improvements. (Must be recorded with account 7515 M/TFR:CAPITAL IMPROVEMENTS) |
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| 3520 - M Tfr Operations & Maintenance | |
| The movement of moneys between funds as mandated by bond resolution or other legal agreements, typically between Current Funds Unrestricted and Plant Funds. (Must be recorded with account 7520 M/TFR:OPERATIONS AND MAINTENANCE) |
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| 3525 - M Tfr SEOG Matching Grant | |
| The movement of moneys between funds as mandated by a legal agreement, typically between Current Funds and Loan Fund. (Must be recorded with account 7525 M/TFR:SEOG MATCHING GRANT) |
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| 3530 - M Tfr Loan Fund Matching Grant | |
| The movement of moneys between funds as mandated by a legal agreement, typically between the General Education Fund and Loan Fund. (Must be recorded with account 7530 M/TFR:LOAN FUND MATCHING GRANTS) |
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| 3535 - M Tfr Endow & Sim Funds Match | |
| The movement of moneys between funds as mandated by a legal agreement, typically between Current Funds and Endowment and Similar Funds. (Must be recorded with account 7535 M/TFR:ENDOW & SIMILAR FUND MATCHING) |
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| 3540 - M Tfr Current Funds Restricted | |
| The movement of moneys between funds as mandated by a legal agreement, typically between Current Funds Unrestricted and Current Funds Restricted. (Must be recorded with account 7540 M/TFR:CURRENT RESTRICTED FUNDS) |
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| 3545 - M Tfr EOY Adjustments | |
| The movement of moneys between funds as mandated by bond resolution or other legal agreements, typically between Current Funds and Plant Funds, specifically for end of year adjustments. (Must be recorded with account 7545 M/TFR:EOY ADJUSTMENTS) |
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| 3550 - V Tfr Intra Org | |
| The movement of moneys within the same Organizational Unit that cannot be more appropriately classified as a mandatory transfer. (Must be recorded with account 7550 V/TFR:INTRA ORG) |
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| 3555 - V Tfr Intra Dept | |
| The movement of moneys within the same Departmental Unit that cannot be more appropriately classified as a mandatory transfer. (Must be recorded with account 7555 V/TFR:INTRA DEPT) |
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| 3560 - V Tfr Renewals and Replacement | |
| The movement of moneys for the purpose of renewal and replacement of fixed or movable assets, typically from Current Funds Unrestricted to Renewals & Replacement Plant Funds. Similar to account 3510 M/TFR - RENEWALS AND REPLACEMENTS, but is not due to an external legal document. (Must be recorded with account 7560 V/TFR:RENEWALS AND REPLACEMENTS) |
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| 3565 - V Tfr Capital Improvements | |
| The movement of moneys to Plant Funds for the purpose of providing funding for capital improvements. Similar to account 3515 -- M/TFR - CAPITAL IMPROVEMENTS, but is not due to an external legal document. (Must be recorded with account 7565 V/TFR:CAPITAL IMPROVEMENTS) |
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| 3570 - V Tfr Operations & Maintenance | |
| The movement of moneys for the purpose of providing funding for operations and maintenance. Similar to account 3520 M/TFR - OPERATIONS AND MAINTENANCE, but is not due to an external legal document. (Must be recorded with account 7570 V/TFR:OPERATIONS AND MAINTENANCE) |
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| 3580 - V Tfr Loan Funds | |
| The movement of moneys to Loan Fund, typically from Current Funds provided on a voluntary basis and not as mandated by a legal agreement. (Must be recorded with account 7580 V/TFR:LOAN FUNDS) |
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| 3585 - V Tfr Quasi Endowment Funds | |
| The movement of moneys to Quasi-Endowment Fund (funds functioning as Endowment), typically from Current Funds, provided on a voluntary basis and not as mandated by a legal agreement. (Must be recorded with account 7585 V/TFR:QUASI-ENDOWMENT FUNDS) |
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| 3589 - V Tfr - Monthly Adjustments | |
| The movement of moneys on a voluntary basis and not mandated by a legal agreement. Utilized by UIHC on a monthly basis as part of their month end closing process. | |
| 3590 - V Tfr EOY Adjustments | |
| The movement of moneys on a voluntary basis and not mandated by a legal agreement. (Must be recorded with account 7590 V/TFR:EOY ADJUSTMENTS) |
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| 3595 - V Tfr Other Purposes | |
| The movement of moneys on a voluntary basis and not mandated by a legal agreement, that is not specific to accounts 3560 through 3594. (Must be recorded with account 7595 V/TFR:OTHER PURPOSES) |
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| 3596 - V Trf Depreciation | |
| Used to offset depreciation expense recorded in Current Funds. The entry to the Accumulated Depreciation account is recorded in Investment in Plant Funds. (Must be recorded with account 7596 V/TRF - DEPRECIATION) |
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| 3597 - V Trf Capital Assets | |
| Asset net book value transferred to a department. Central use only. (Must be recorded with 7597 --V/TRF:CAPITAL ASSETS) |
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| 3598 - M Tfr Funds Into Bank Account | |
| Central use only. (Must be recorded with 7598 -- M/TRF:FUNDS OUT OF BANK ACCOUNT) |
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| 3599 - V Tfr Funds Into Bank Account | |
| Central use only. (Must be recorded with 7599 -- V/TRF:FUNDS OUT OF BANK ACCOUNT) |
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