Policies Research Funding What's New? American Recovery and Reinvestment Act of 2009 (ARRA)
Useful Information for Budgets Documents Agreements (MTAs, Research Agreements, etc.)
Schweppe Grant Awards for CMS Faculty
Cost Transfers Policy
A cost transfer is an after-the-fact reallocation of the cost associated with a transaction from one research project to another. Expenses transfers within a single account/project (within objects of expenses) are not necessary and usually not required by agencies with exception of a few not for profit organizations. Although costs should always be charged to the correct account/research project, cost transfers are sometimes necessary. To be allowable, cost transfers must be timely, be fully documented, conform to University and sponsor allowability standards and have appropriate authorizing signatures. The need for timely and well-documented cost transfers is paramount. When cost transfers are necessary, they must be made within 90 days of the original posting of the cost. The transfer of expenses must be supported by documentation that fully explains how the error occurred and a certification of the correctness of the new charge by a responsible organizational official of the University. An explanation merely stating that the transfer was made “to correct error” or “to transfer to correct project” is not sufficient. Cost transfers that do not involve salaries should be initiated by the Principal Investigator through the use of a Cost Transfer Form. This policy is applicable to all cost transfers, including any transfers initiated through the use of the Payroll Adjustment Change, PAC forms for Payroll Cost Transfer.