Frequently Asked Questions (FAQs)

For employee budgeting purposes, the University’s portion of benefits associated with a full-time position for 2020-21 are:

  • FICA (Social Security): 7.65% of salary
  • State Retirement: 21.68% of salary
  • Optional Retirement: 13.61% of salary
  • Law Officer’s Retirement: 26.68% of salary
  • Medical Insurance: $6,388.32 per year

These rates are subject to change annually.

What is the difference between a budget transfer and a cash transfer?

Budget transfers normally occur between state funds. State funds are all funds that begin with a 1. These transfers can be processed using one particular state fund (moving budget between account pools) or between several state funds.

Budget transfers can also be processed to adjust the budget for any particular non-state fund. However, debits (+) and credits (-) must equal by fund.

A transfer between 2 non-state funds (any fund that does not start with a 1) is a cash transfer.

Can a transfer be processed between a state and non-state fund?

No. Under no circumstances can a transfer be processed between a state and non-state fund.

What office should be contacted for Budget Transfers?

The Budget Office should be contacted for any question relating to budget transfers. Budget transfers should be emailed to budget@uncp.edu.

What office should be contacted for Cash Transfers?

Financial Reporting should be contacted for any questions relating to cash transfers. Cash transfers should be emailed to financial.reporting@uncp.edu.

Where can I find the Budget Transfer form?

The budget transfer form can be found on the Financial Planning and Budgeting website under the forms tab.

https://www.uncp.edu/resources/financial-planning-and-budgeting/financial-planning-and-budgeting-forms

What should I do if I need to move budget from 23000P to 24000P but my fund does not have a 24000P?

Account pools only show up in a fund when a budget or expense is tied to that account pool for your fund. Once you submit a budget transfer to the Budget Office to move budget in that account pool, you will then see that account pool in your fund.

How do I request a new fund in banner?

The Request for New Banner Fund can be found on the Controller’s website under the forms tab.

https://www.uncp.edu/sites/default/files/2017-12/Request%20for%20New%20Banner%20Fund.docx