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
$ 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)

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 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

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

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