Frequently Asked Questions
Below are some commonly asked questions related to the Office of Budget & Planning. Click on a question to see the answer.
- What is a Budget Transfer?
Budget transfers are requests from departments to move funds from one account to another account or from one department to another, after the original budget has been established. Transfers are prepared to
1. Correct the department’s originally submitted budget;
2. Move funds to accommodate a change in a department’s planned expenditures; OR
3. Perform University-wide budget reductions/increases due to income or State Subsidy changes, university wide salary increases, or emergencies.
Please note on the Budget Transfer forms the “FROM" is a credit which reduces the budget and the “TO” is a debit which INCREASE the budget.Back to Top
- What can be transferred?
Operational expensesBack to Top
- When should Budget Transfers take place?
Before an expense has occurred.Back to Top
- What is the turn-around time for Budget Transfers?
The Budget Office will process transfers within 48 business hours from the time the request was received with all required signatures. The department will be notified when the transfer has been processed and approved.Back to Top
- What is a Cost Transfer?Cost transfer is a reassignment (transfer) of charges within or between FOAPs to correct errors associated with the department’s regular financial operations after the expense has posted to the account.Back to Top
- When should a Cost Transfer take place?Cost transfers should be prepared and submitted as soon as the need for a transfer is identified, but not later than 90 days after the posting is made. Cost transfers exceeding this time frame will require additional documentation as to why the transfer request was not made on a timely basis.Back to Top
- What is the turn-around time for Cost Transfers?The Budget Office will process transfers within 48 business hours from the time the request was received with all required signatures. The department will be notified when the transfer has been processed and approved.Back to Top
- Which screen allows me to check my balances?FGIBAVLBack to Top
- Which screen allows me to review expenses charged to specific account codes?FGIBDSTBack to Top
- Where can I find a copy Alabama A&M’s University’s budget?The university budget can be found on the Budget Office website under the Annual Operating Budgets section.Back to Top
- How does Alabama A&M University develop its budget every year?Decisions about allocations are based on projected available funding for the following fiscal year. All budgets approved by the Board of Trustees are implemented at the start of each fiscal year, October 1st.Back to Top
- What is a Budget Manager?Budget managers serves as the official contact for the department on financial matters. Budget managers may have budget responsibility for more than one active account.Back to Top
- What are my responsibilities as a Budget Manager?Budget managers should review their accounts on a regular basis to ensure proper recording of account expenses. Budget managers are responsible for ensuring that the expenses of the accounts managed do not exceed the unit’s allocated budget. Budget managers who delegate their approval authority must ensure the designee understands the approval requirements and uses sound judgment to protect the University’s resources.Back to Top
- When does the fiscal year begin and end?The fiscal year begins September 1st and ends October 30th.Back to Top
- What is a FOAP?Your FOAP is your department account number.
P=ProgramBack to Top