09.02.01 - Budget Transfers
CITY OF BOYNTON BEACH, FLORIDA ADMINISTRATIVE POLICY MANUAL CHAPTER: 09 Finance & Budget Policy No. 09.02.01 SECTION: 02 Budget Procedures Page: 1 of 1 SUBJECT: 01 Budget Transfers PURPOSE:
The purpose of this policy is to formalize the practice of budget transfers and provide clear guidelines for development and processing of budget transfers. SCOPE: This policy applies
to all departments who generate budget transfers. Budget transfers are a fundamental part of budget changes. They are created for a variety of reasons, the most common being an account
is overdrawn and the auditors require reconciliation as soon as possible. Transfers are also required due to budget revisions and changes in operations. POLICY: Budget transfers are
the responsibility of the department affected. Budget transfers require compilation on a Budget Transfer Request Form and proper explanation prior to posting by Finance. The form is
located on the Share Drive/Templates/Finance/Budget Transfer Form.xls. The budget transfer must balance prior to submittal. Below are the dollar value and division guidelines for level
of approval. A transfer within a department's budget may proceed upon authorization from the Department Director and the Finance Director. EXCEPTIONS: 1. A transfer within a department's
budget exceeding $4,999 from personnel or capital accounts requires City Manager approval in addition to Department Director and Finance Director. 2. A transfer involving a non-budgeted
capital outlay request requires City Manager approval in addition to Department and Finance Directors. 3. A budget transfer between departments requires City Commission approval, which
will require agenda item preparation by the initiating department and submittal via the Finance Department. DEVELOPED BY: Department of Financial Services EFFECTIVE DATE: March 6, 2002
REVISED: January 18, 2002 Kurt Bressner Kurt Bressner City Manager