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Title: Cost Transfer Policy
Subject: Research
Policy No: OSP: 2015: 01
Applies: University-wide
Issuing Officer: Senior Vice President for Health Sciences
Responsible Officer: Vice President for Research
Adopted:
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 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 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.
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B. A cost transfer is an expense (both salary and non-salary) that is transferred from one Federal or State grant to an alternate account, and vice versa, after the month the initial expense is recorded in the financial accounting system.
C. The Federal government has established policies, concerning the assignment of costs to federally sponsored agreements, in 2 CFR 200 and specific agency policies on cost transfers. These policies require that universities establish internal controls to ensure that costs associated with a particular sponsored agreement are allowable, reasonable, allocable, and timely.
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