Institutional Accounts

7500-7599 Series: Transfer-out Accounts

The transfer-out institutional accounts 7502-7596 are used in conjunction with the parallel transfer-in institutional accounts 3502-3596, so 7555 (transfer-out) Voluntary Transfer Intra Department must be recorded with 3555 (transfer-in) Voluntary Transfer Intra Department, etc. The sum of transfer institutional accounts' balances must net to zero at the consolidated level for the University of Iowa. Therefore, transfer journal entries' debits and credits must offset exactly between the transfer institutional accounts.

A cross-reference between the WhoKeys used in a transfer entry is valuable, therefore, it is preferred that the journal line description utilize the format shown below.
Positions 1 through 3 Fund
Positions 4 through 7 Department
Positions 8 through 15 Grant/Program ID & Number
Positions 16 through 19 Institutional Account
Positions 21 through 35 Description
The usage of transfer institutional accounts in Fund 050 General Educational Fund (GEF) is not allowed, unless approved as an exception by the University Controller for certain central administrative departments. GEF funds are to be expended within the current fiscal year. The preferred method to "transfer" funds within Fund 050 is to record Allocation journal entries by using the Budget Management system and/or moving non-payroll expenditure transactions by using WebCV and payroll expenditures by using PayCV. Additional information about the appropriate method to move funds is available under the "Guidelines for Moving Budgets, Revenue and Expenditures within the General Ledger". Questions can be directed to the Budget Development Office or Accounting & Financial Reporting.

The transfer of funds between University Funds (165-900, 990, 991 and 993) and Agency Funds (Funds 950- 989, 992 and 998) must be approved by the Director, Accounting & Financial Reporting.

7502 - M Tfr Stdt Fees Debt Serv  
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 3502 - M/TFR - STDT FEES/DEBT SERV).
7505 - 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 3505 - M/TFR - NON-STDT FEES/DEBT SERV).
7510 - M Tfr Renewals and Replacement  
The movement of 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 3510 - M/TFR - RENEWALS AND REPLACEMENTS).
7515 - M Tfr Capital Improvements  
The movement of 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 specifically for capital improvements.(Must be recorded with 3515 - M/TFR - CAPITAL IMPROVEMENTS).
7520 - M Tfr Operations and Maint  
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 3520 - M/TFR - OPERATIONS AND MAINTENANCE).
7530 - M Tfr Loan Fund Matching Grant  
The movement of moneys between funds as mandated by a legal agreement, typically between the General Educational Fund and the Loan Fund.(Must be recorded with 3530 - M/TFR - LOAN FUND MATCHING GRANTS).
7545 - 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 3545 - M/TFR - EOY ADJUSTMENTS).
7550 - V Tfr Intra Org  
The movement of moneys within the same Organizational Unit that cannot be more appropriately classified as a mandatory transfer. May be used to transfer balances from prior fiscal year(s) to different WhoKey(s). (Must be recorded with the 3550 - V/TFR - INTRA ORG).
7555 - V Tfr Intra Dept  
The movement of moneys within the same Departmental Unit that cannot be more appropriately classified as a mandatory transfer. May be used to transfer balances from prior fiscal year(s) to different WhoKey(s). (Must be recorded with the 3555 - V/TFR - INTRA DEPT).
7560 - 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. May be used to transfer balances from prior fiscal year(s) to different WhoKey(s). Similar to 7510 - M/TFR - RENEWALS AND REPLACEMENTS, but is not due to an external legal document.(Must be recorded with 3560 - V/TFR - RENEWALS & REPLACEMENTS).
7565 - V Tfr Capital Improvements  
The movement of moneys to Plant Funds for the purpose of providing funding for capital improvements. May be used to transfer balances from prior fiscal year(s) to different WhoKey(s). Similar to 7515 - M/TFR:CAPITAL IMPROVEMENTS, but is not due to an external legal document.(Must be recorded with 3565 - V/TFR - CAPITAL IMPROVEMENTS).
7570 - V Tfr Operations and Maintenan  
The movement of moneys for the purpose of providing funding for operations and maintenance. May be used to transfer balances from prior fiscal year(s) to different WhoKey(s). Similar to 7520 - M/TFR:OPERATIONS AND MAINTENANCE, but is not due to an external legal document.(Must be recorded with 3570 - V/TFR - OPERATIONS AND MAINTENANCE).
7580 - 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 (see 7530 - M/TFR:LOAN FUND MATCHING GRANTS). May be used to transfer balances from prior fiscal year(s) to different WhoKey(s). (Must be recorded with 3580 - V/TFR - LOAN FUNDS).
7589 - 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..(Must be recorded with 3589 - V/TFR:MONTHLY ADJUSTMENTS).
7590 - V Tfr EOY Adjustments  
The movement of moneys on a voluntary basis and not mandated by a legal agreement (see account 3545 - M/Tfr-EOY Adjustment). May be used to transfer balances from prior fiscal year(s) to different WhoKey(s). (Must be recorded with 3590 - V/TFR - EOY ADJUSTMENTS).
7595 - V Tfr Other Purposes  
The movement of moneys on a voluntary basis and not mandated by a legal agreement, that is not specific to IACTs 7560 through 7594 (see 7545 - M/TFR:EOY ADJUSTMENTS). May be used to transfer balances from prior fiscal year(s) to different WhoKey(s). (Must be recorded with 3595 - V/TFR - OTHER PURPOSES).
7596 - V Trf Depreciation  
Used to fund depreciation from the current to the plant funds. (Must be recorded with 3596 - V/TRF - DEPRECIATION).
7597 - V Trf Capital Assets  
(Central Use Only). Asset net book value transferred from a department.
7598 - M Tfr Fnds Out Of Bank Account  
(Central Use Only). (Must be recorded with 3598 - M/TRF - FUNDS INTO BANK ACCOUNT).
7599 - V Tfr Fnds Out Of Bank Account  
(Central Use Only). (Must be recorded with 3599 - V/TRF - FUNDS INTO BANK ACCOUNT).

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