Using the Deficit Transfer Tool
Whenever possible, GCA encourages departments to use the GrantTracker Deficit Transfer tool to resolve deficits once a budget's end date has passed. If your budget is in deficit and is eligible to use this tool, you will see a Deficit Transfer link at the end of the Financial Information section on the GrantTracker Budget Information page. (Note that the Deficit Transfer tool is only available for standalone or parent budgets. If you need to resolve a deficit on a sub budget, please send GCA a GrantTracker under the Closing topic.)
Clicking on the Deficit Transfer link will open a separate tab with an interface for you to enter the budget number you are using to cover the deficit. Note that this budget will only be charged for the direct cost portion of the deficit; once this amount is removed from the grant budget it is no longer subject to indirect costs.
Click Verify to confirm you have entered an allowable budget, then Submit to process the transfer.
Budget eligibility for deficit coverage
As a rule, deficits cannot be transferred to other grant or federally funded budgets or to recharge center budgets. The Deficit Transfer tool accepts transfer budgets that meet both the following criteria:
- The budget must be current biennium.
- The budget must be in status 1 or 3.
AND at least one of the following criteria:
- The first two digits of the (six-digit) budget number are between 01 and 10
- The first two digits of the (six-digit) budget number are 74 or 75
- The budget type is 06
- The budget's type/class is 05-34, 05-57, 05-54, or 05-52
If you believe you have entered an eligible budget, but it is rejected by the Deficit Transfer tool, please contact GCA via GrantTracker under the Closing topic. We will review the budget, and if we determine it is eligible, we will complete the deficit transfer.