ROWAN UNIVERSITY POLICY

Title: Cost Transfer Policy
Subject: Research
Policy No: OSP: 2015: XX
Applies: University-wide
Issuing Officer: Senior Vice President for Health Sciences
Responsible Officer: Vice President for Research
Adopted: XX/XX/2015
Last Revision:
Last Reviewed: 02/13/2015

I. PURPOSE

The purpose of this policy is to establish guidelines for requesting and performing cost transfers in sponsored programs that are funded by Federal and State monies.

II. ACCOUNTABILITY

Under direction of the Senior Vice President for Health Sciences, the Vice President for Research shall provide oversight to the Office of Sponsored Programs to ensure compliance with this policy.

III. APPLICABILITY

This policy applies to all faculty, employees and students of the University and grants and sponsored projects whose purpose of the project(s) is research.

IV. REFERENCES

A. 2 CFR 200 - Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards2 CFR 200 includes: (1) OMB Circulars A-110, "Uniform Administrative Requirements for Grants and Agreements with Institutions of Higher Education, Hospitals, and Other Non-Profit Organizations," and (2) A-21, "Cost Principles for Educational Institutions" whereas Rutgers specifies OMB circ A-100 and A-21.

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1. Contracting and Procurement
2. Travel Related
3. Fixed Asset Added to ensure Rowan policies are refernced for guidance.

V. POLICY

A. Principal Investigators are in the best position to determine what research costs are necessary for performance of a sponsored agreement. Consequently, they shall assume primary responsibility for justifying cost transfers to or between their sponsored agreements when such transfers are necessary. The principal investigators must review the fiscal status of their sponsored agreements each month and promptly correct expense transactions that are incorrectly recorded. Ultimately, a principal investigator is responsible for resolving any cost transfer disallowed as a result of an audit.

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E. Grantees must maintain copies of the approved cost transfers as well as the supporting documentation that must be made available for audit or other review. Frequent errors in recording costs may indicate the need for additional training and/or enhanced communication among the principal investigator, Accounting Services department, and Payroll Services department to ensure compliance with all appropriate university payroll, reimbursement, accounting, and personnel policies and practices.

VI. ATTACHMENTS

A. Attachment 1, Sponsored Project Cost Transfers

ATTACHMENT 1

SPONSORED PROJECT COST TRANSFERS

To ensure that sponsored project cost transfers comply with federal regulations, the Office of Sponsored Programs has established the criteria that a cost transfer must meet based on 2 CFR 200. Below is a description of each cost transfer grouping and the cost transfer criteria that apply to each group:

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