1.10 Budget Transfers for Current Unrestricted Fund 1

Once the Board has legally adopted the annual budget, the following amendments and transfers within the current unrestricted Fund 1 will require Board approval:

Any transfers from the basic contingency account into any other account.

1. Transfers may not be made that violate approved staffing and approved rates of pay. The approved level of staffing is established in the final budget adopted by the Governing Board. Salary savings from unfilled positions may not be used in the current fiscal year to create additional positions that obligate the District beyond the current fiscal year.
2. College Presidents, Vice Chancellors, the Chancellor, Provosts and Skill Center Directors may not permit transfers from any expenditure budget object code in their units if the transfer will result in insufficient budget to cover contractual obligations, supplies, utilities and communication costs and any other fixed or temporary cost of operating the colleges, District office or any of its centers. This is inclusive of salary and employee benefit costs related to permanent and temporary employees.
3. Transfers may not be made if they result in an over expenditure of the total budget for each unit. If it appears that budget deficits will occur, the Vice Chancellor for Business Services is authorized to initiate intervention strategies to ensure that overspending does not occur.
4. Unbudgeted transfers of actual revenues and expenses between funds may only be made if there is sufficient existing budget capacity in the fund receiving the transfer and if appropriate approvals have been granted. Unbudgeted transfers at a level of $20,000 and higher will be reported to Maricopa Community Colleges audit and finance committee and the Governing Board.
5. If for any reason it is deemed necessary that transfers be made contrary to the above, approval must be received from the Vice Chancellor for Business Services or designee.