Retroactive Salary Transfers

Description:

A Retroactive Salary Transfer is a cost accounting transaction, which allows for correcting salary expenditures. It is not for managing budgets.

FROM: Wrong Budget Number <-----------OR------------> TO: Right Budget Number

All reversals of JVs/RSTs require a new RST form to be submitted. A copy of the FIN screen or BAR showing the JV# is also required for reversals.

Appropriate Use:

Inappropriate Use:

Managing or balancing budgets
Using surplus monies
Using an inappropriate budget to avoid a deficit on another budget (work with GCA when in doubt about grant or contract)
Updating OPUS online
Revising budget reports
Looking up FIN entries

Prevention:

Communicate with the department administrator, principal investigator, or budget administrator
Maintain fiscal control on a regular basis:
- Review Budget Activity Reports, budget, and Financial Accounting System
- Check certification reports and check registers when received
Plan ahead to manage expenditures and coming charges
Work with Grant Contract Services to obtain advance budget number and extensions

Research on Website

Form Preparation:

Stage 1: Before filling out the form

Make copies of OPUS Check history and List Funding History
Correct Faculty Effort Certification Report and send to the Financial Analysis Office
Correct Grant & Contract Accounting Certification Report

If current, correct before sending to the Payroll Office
If the salary transfer is for a past transaction, make a note on the department copy and maintain for audit purposes

Stage 2: Download forms online and fill out form following the instructions.

Review Financial Accounting System and Budget Activity Report to insure that transaction has been processed
Allow 30 days