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Policy 508: Vacant Positions and State E&G Funds

Section: Operating Policies
Sub-Section: General
Policy Number: 508
Subject: Vacant Positions and State E&G Funds
Origin Date: January 1, 1998
Effective Date: January 1, 1998
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508.1 POLICY

State E&G funds from vacant positions will revert to the appropriate vice president’s or dean’s office. The vice president or dean will determine the best utilization of these funds within his/her administrative area.

508.2 DEFINITIONS

2.1 Vacant Position

A benefit eligible position which does not have an incumbent employee.

508.3 PROCEDURES

3.1 Transfer of Salary

When an employee vacates a position which is paid fully or partially by E&G funds, the department will prepare a Budget Transfer Request form specifying the E&G account from which funds are paid. This form is to be attached to the Employment Action Form which terminates the employee. These forms are to be sent together to the appropriate vice president or dean for review and further processing. The amount to be transferred will be determined in the budget office after all calculations have been made to close out the terminating employee. The budget office will then enter the amount on the Budget Transfer Request form and send copies to the appropriate offices.

3.2 Utilization of Funds

These funds will be utilized at the discretion of the vice president or dean in a manner which will best serve the mission and needs of his/her administrative area. Use of the funds will consider their permanent and one-time nature.