Part III - UNM Finance: Practical Applications

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Standard Accounting Resource Manual (SARM)

MSC 0000 00
1 University of New Mexico
Albuquerque, NM 87131

8045 Interdepartmental Support Entry

  • The limit for 8045 entries is $20,000/year per index.  No single entry can exceed $5,000. 
  • Sometimes funds need to be moved, but they cannot be made with a Reserves or Allocation entry.  They are small enough to be within the 8045 guidelines.  When this happens, you can sometimes do an 8045-Interdepartmental Support entry, instead of a transfer.
  • This will sometimes occur when you are correcting prior year transactions.

Example:

Roger Jones has an Index 49xxx3, Fund 3U0023; Program P161 that needs to be closed.  It has an existing loss balance of $87.52.  It cannot be closed until the index balance is zero.  The department wishes to close the index by funding the deficit with unrestricted department chair funds in Index 49xxx7, Fund 3U0303, Program P171.  The department chair index is in a different level 2 Program and Fund than the index that needs to be closed.

Roger submits the following entry:

Index Account
Debit Credit
49xxx7 8045  87.52  
49xxx3 8045 _____     87.52


This brings the 49xxx3 balance to zero, and the index can be closed.