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How to Fix Residual Transfer Errors

Instructions

When a residual amount is transferred to a fund other than the general fund, the fund where the residual balance transfer originated must have zero fund equity. For example, if $25,000 was transferred from the Community Service Fund (Fund 80) to the General Fund (Fund 10), the following should be true:

  • account 10R-419000-180, Transfer from Community Service Fund, $25,000;
  • account 80E-419000-810, Transfer to General Fund, $25,000; and
  • account 80B-9xxxxx-002, Fund 80 Fund Balance, must sum to zero.

Verify that the district's intent is to transfer a residual (ending) balance (function 419000) and not simply to complete an operating transfer (function 411000) between funds.

Possible Addendum

Please note that an addendum may need to be completed for funds that have made a residual transfer out that still have a fund balance at year-end. The addenda include the following:

  • Addendum A28 Transfer from Non-referendum Approved Debt Fund (Account 10R-419000-138)
  • Addendum A29 Transfer from Referendum Approved Debt Fund (Account 10R-419000-139)
  • Addendum A30 Transfer from Capital Expansion Fund (Account 10R-419000-141)
  • Addendum A33 Transfer from Food Service Fund (Account 10R-419000-150)
  • Addendum A50 Transfer from Other Capital Projects Fund (Account 39R-419000-149)
For questions about this information, contact dpifin@dpi.wi.gov (608) 267-9114