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

How Labor Redistributions are Approved

There is an electronic process to approve redistributions entered through Labor Redistribution in LoboWeb Employee Self-Service. Labor redistributions will be approved by Financial Services in the LoboWeb Employee Self-Service or in Banner form PHAREDS. Indices that will be affected will need to be approved by the labor redistribution Departments.

All labor redistributions must have the proper written justification and approval from the requestor before processing. Restricted funds require a written justification and approval from the department’s PI before submitting a Labor Redistribution.

The approver is the individual in the appropriate Financial Services Office who authorizes the labor redistribution processed in LoboWeb Self-Service - Labor Redistribution.

Labor Redistributions will be approved by the Financial Services Offices within three business days from submission by the originator as long as the labor redistribution documentation meets all requirements, including the 90 day Cost Transfer Justification memo for restricted indexes. The 90 day Cost Transfer Justification memo must be received by Financial Services office before a labor redistribution is approved. In lieu of submitting the 90 day Cost Transfer Justification memo, the initiator can include the required information in the comment section of the Labor Redistribution being submitted. The appropriate representative with signing authority from the College, Department, Chair or Dean’s office needs to be added as an On The Fly approver at a sequence number that permits the Dean’s office to review prior to Financial Services .

APPROVING A LABOR REDISTRIBUTION

For instructions on approving a Labor Redistribution, go to https://fssc.unm.edu/job-aids.html for the Job Aid titled “Banner Labor Redistribution – PHAREDS.” These instructions can be downloaded and printed for your use.