Reserve Account Guidelines

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Learn how to use reserve accounts to effectively plan for the future.

Definition

Reserve accounts are non-transactional accounts used to carry forward funds for a specific purpose from one year to the next.

This means that the account can not be used for expenditures.

Eligibility

  • Reserve accounts can be established and maintained within any of the funding sources and trial balances (State Operating, Income Fund Reimbursable (IFR), State University Tuition Reimbursable Account (SUTRA), Dormitory Income Fund Reimbursable (DIFR), Research Foundation (RF) and UB Foundation (UBF).
  • A main reserve account can be set up for each funding source with sub categorization for each planned use of reserve.
  • Reserve funds can not be transfered across different funding sources, (e.g. you can not transfer RF reserve funds to state operating accounts)
  • Reserve accounts can not be utilized for expenditures.
  • For UBF Funds, account restrictions should be considered when moving funds to a reserve account, (e.g. gift revenue may never be transferred to a reserve account.)

State Reserve Accounts

Create a New State Reserve Account

When creating a new reserve account the title of the account should begin with the word "Reserve" followed by a description of the planned use of the funding.  By following this structure all reserve accounts will be grouped together when sorting by account description.

You can also create subaccounts for each of the categories you plan to spend the reserve funds. (e.g. start-ups, equipment, IT projects, capital projects).  For state reserve accounts (State Operating, IFR, SUTRA, DIFR) you should establish subaccounts for each of the categories.

In order to create a new state account you must complete the on-line form requesting a new state account.

Using State Reserve Funds

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All expenses must be processed on the departmental accounts, not on reserve accounts.

Transfer Funds into Appropriate Reserve Accounts

To transfer State Operating or DIFR reserve funds you must complete a budget revision from the account(s) with the available reserve to the reserve account(s).

To transfer IFR or SUTRA reserve funds you must complete a revenue transfer from the account(s) with the available reserve to the reserve account(s).

Transfer Funds Out of Reserve Accounts Into Appropriate Departmental Accounts to utilize reserve funds

In order to move State Operating or DIFR funds you must complete a budget revision to move the funds from the reserve account(s) to the appropriate departmental account(s).

In order to move IFR or SUTRA funds you must complete a revenue transfer to move the funds from the reserve account to the departmental account.

Non-Sponsored RF Reserve Accounts

Create a New Non-Sponsored RF Reserve Account

When creating a new reserve account the title of the account should begin with the word "Reserve" followed by a description of the planned use of the funding. By following this structure all reserve accounts will be grouped together when sorting by account description.

You can also create subaccounts for each of the categories you plan to spend the reserve funds (e.g. start-ups, equipment, IT projects, capital projects). For Non-Sponsored Research Foundation accounts you should establish different tasks for each of the categories.

When requesting a new Non-Sponsored account the following information must be included:

  • Duration of the account (Start Date and End Date)
  • Project Director (Account Facilitator)
  • General account description
  • Account purpose (please classify the account into one of the functional code classifications
  • Who should have signatory access to the account
  • Account in which the funding is coming from

Using Non-Sponsored RF Reserve Funds

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All expenses must be processed on the departmental accounts, not on reserve accounts.

Transfer Funds Into Appropriate Reserve Accounts

To transfer funds into reserve accounts you must include the following information in your request:

  • Account number(s) transferring from (departmental account)
  • Account number(s) transferring to (reserve account)
  • Amount to be transferred

Transfer Funds Out of Reserve Accounts Into Appropriate Departmental Accounts to Utilize Reserve Funds

To transfer funds from a reserve account to a departmental account you must include the following information in your request:

  • Account number(s) transferring from (reserve account)
  • Account number(s) transferring to (departmental account)
  • Amount to be transferred

UBF Reserve Accounts

Create a New UBF Reserve Account

When creating a new reserve account the title of the account should begin with the word "Reserve" followed by a description of the planned use of the funding.  By following this structure all reserve accounts will be grouped together when sorting by account description.

For UB Foundation accounts you should establish different account for each of the planned uses of the accounts (e.g. start-ups, equipment, IT projects, capital projects).

Using UBF Reserve Funds

On this page:

All expenses must be processed on the departmental accounts, not on reserve accounts.

Transfer Funds Into Appropriate Reserve Accounts

To transfer funds into reserve accounts you must include the following information in your request:

  • Account number(s) transferring from (departmental account)
  • Account number(s) transferring to (reserve account)
  • Amount to be transferred

Transfer Funds Out of Reserve Accounts Into Appropriate Departmental Accounts to Utilize Reserve Funds

To transfer funds from a reserve account to a departmental account you must include the following information in your request:

  • Account number(s) transferring from (Reserve Account)
  • Account number(s) transferring to
  • Amount to be transferred

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