Lesson 5: RTI and Transaction Entries

Pass-through Funds to Local Bank Accounts

The ITV/RTI process is for transfers between funds that exist within the State Treasury. Universities are frequently authorized to hold funds in local bank accounts outside the State Treasury.

An exception occurs with the use of T-code pair 268/279 that allows payments made to local bank accounts.

Warrant/Direct deposit produced

The ITV/RTI combination 268/279 is a quasi-RTI transaction because it still produces a warrant so it can be deposited to local funds. This combination is used for AFR reconciliation purposes.

RTI agencies

Receiving agencies or institutions are required to establish an RTI profile on the USAS 55 (550) Recurring Transaction Profile screen and provide this RTI number to the disbursing agencies or institutions to enter on their initiating transactions.

T-code 279 is used by the receiving agency or institution to establish the pass-through revenue to funds held outside of the Treasury.

Transaction agencies

For transfers of federal or state funding to a university, disbursing agencies or institutions are required to use T-code 268 to establish pass-through expenditures to funds held outside the Treasury.

Reference

For a working example, see (RTI Table 11), from the Interfund Activity & Transactions section of the Reporting Requirements for Annual Financial Reports of State Agencies and Universities website.

Next: RTI Entries