Cost transfers move expenses between sponsored research projects or between non-restricted SpeedTypes and sponsored projects.

The nature of cost transfers makes them subject to extra scrutiny during audits. Therefore all cost transfer journal entries must be approved by the Campus Controller’s Office (CCO). Different requirements apply to different cost transfers, depending on the timing of the cost transfer and the expense accounts involved. See the Cost Transfer Policy for details.

Journal Entries (JEs)

Journal entries or interdepartmental invoice journal entries (INs) that involve a Fund 30 or Fund 31 SpeedType require the Campus Controller's approval prior to the transaction posting to the general ledger. We will review cost transfers for approval and to ensure that they are in compliance with federal statutes, regulations, CU policies and procedures, and terms and conditions of the award. See the Journal Entry Debit-Credit Convention for more information.

Purchasing food/beverage for an official function?

PSC Procedural Statement: Official Functions
Sets forth university requirements for use of the Official Function form when food/beverage is purchased for an official function.

Official Function (OF) Form
For us when alcoholic beverages are being purchased; or total cost of food/beverage exceeds $500; or per-person cost exceeds $85.

Need to set up/modify a travel arranger?

Travel Arranger Form
A travel arranger can book airfare, hotel, and car rentals on behalf of another person.

FAQs

Transfers processed between 30 and 90 days after the end of the month in which the transaction appeared on the reporting system statement must include written justification and all relevant back-up documentation. Cost transfers completed more than 90 days beyond the end of the month in which the transaction appeared are considered exceptions and require substantial and reasonable justification.

Header descriptions should provide a clear, complete explanation concerning the transfer and must include:

  • The cause of the error (why the receiving FOPPS was not charged originally).
  • Justification that the charge is allowable, allocable and provides direct benefit to the project receiving the charge.
  • Cost transfers after 90 days require not only an adequate explanation of charge but also an explanation of the delay in processing the correction. Late transfers may need additional review by the project’s financial analysts before the JE can be approved.
  • Abbreviations, incomplete sentences and other word reduction techniques are expected in the journal header due to the 254 character limit.

Please note that according to federal guidelines, “...an explanation which merely states that the transfer was made ‘to correct error’ or ‘to transfer to correct project’ is not sufficient.”