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

Policy Changes (Effective July 1, 2018) Increased single direct cost transaction exemption threshold from $500 to $1000 $500-1000 represents 27% of CTs University-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)

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

Resources Update Name Revision Cost Transfer Summary Flowchart Updated to reflect new policy; reduced from 2 to 1 page Cost Transfer Form Reduced from 5 to 2 pages FAQs Reduced from 46 to ~ 10 questions Best Practices in Journaling Job Aide NEW [Long-form] Flowchart Eliminated Cost Transfer Online Determination Tool

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.

Timeline April 27th: Feedback due June 1st: Post online July 1st: Effective date (reflected in University quarterly monitoring process for Q1 FY19 Cost Transfers)

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