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Open Forum Cost Transfer Policy Update

This policy update includes changes such as increased exemption threshold, removal of CT form requirement, exceptions to policy, and formatting changes. Also clarifies generally unallowable criteria for cost transfers.

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Open Forum Cost Transfer Policy Update

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  1. Open Forum Cost Transfer Policy Update Rita Bergemann April 11, 2018

  2. Policy Changes (Effective July 1, 2018) • Increased single direct cost transaction exemption threshold from $500 to $1000 • $500-1000 represents 27% of CTsUniversity-wide but only 7% of $ amount of CTs in FY17 • Removed requirement for CT Form when transacting within the same sponsored award(fund) as long as initial generally unallowable criteria is not applicable • Form was previously required if transacting across account groups • Added an exceptions to policy section • Exceptions to policy escalated to OSP AVP (does not relate to transaction exceptions)

  3. Formatting Changes • Streamlined policy document and reduced from 9 to 3.5 pages • Restructured policy to focus on the typically unallowable transactions and the transaction types that require a Cost Transfer Form • Moved procedures to a separate document and added recommended naming conventions, documentation, and over 90-day cost transfer examples

  4. Resources Update

  5. Generally Unallowable Criteria (Clarification Only) Cost transfers that are generally unallowable regardless of the date of the original transaction include those transfers that affect: • a previously submitted financial report; • a carryforward request required by sponsor; • a previously submitted final invoice; and/or • a final figure (expenditures) has been confirmed by the department for those sponsors who do not require a final financial report. Exceptions are rare and require both OSP and school/tub level approval.

  6. Timeline

  7. Thank you!! • Cost Transfer Working Group Members: • Christyne Anderson, FAS • Rita Bergemann, HMS • Kristie Froman, SPH • Roseann Luongo, OSP • Denise Moody, FAS • Asma Sharif, SEAS • Tracey Westervelt, OSP

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