How to Transfer Funds (Depreciation) to a Renewal and Replacement Reserve Fund


Overview


This article will focus on when and how campus will record Equipment Renewal and Replacement Reserves for Recharge Operations for Recharge Activities only

Critical Concepts


Steps to Take


1.  Determine the depreciation amount using the depreciation schedule (use the depreciation sheet from the rate proposal as the template and include any adjustments that are applicable)

2.  Download and complete an MCI File (Version date 12.11.2020)

  1. Use PPM Expenditure Type 774010 - To/From Renew/Replace Equipment Reserves to transfer between Recharge Operating Fund (Fund 12100) to Recharge Equip R and R Fund Equipment Renewal and Replacement Reserve (Fund 17000)

Account 774010 To/From Reserves needs to be used to process the Debit and the Credit of the transfer to have a net impact on the Account as zero

b.  Enter the following parameters for the fields on the MCI file:

3.  Create a ticket in Service and Support to transfer funds to Equipment Reserves with the following parameters:

 

3.  Attach a copy of the Depreciation worksheet with any adjustments that are applicable to the ticket

4.  Attach the completed MCI file to the ticket and Submit

 

If you still have questions or need additional assistance, please submit a ticket