Cost Transfer process enhancements are live: Join an info session

January 31, 2024

Summary

  • Effective Wednesday, January 24, 2024, the Policy 1305 Cost Transfer and related procedures and processes have been updated.
  • Effort Certification reviewers will encounter updated change reason codes within the effort certification business process. 
  • When making changes to an Effort Certification Statement, the selection of change reason will now include the enhanced list. As part of the continued business process, the PAA (Payroll Accounting Adjustments) resulting from changes to effort will include the change reason selected within the certification.
  • Register for an upcoming information session in February to learn more.
  • Share this information with anyone in your departments who initiates Cost Transfers (manual journals, ISP Adjustments, payroll accounting adjustments, and accounting adjustments) involving grants in both FD02 and FD28.

Details

As part of a continuous improvement effort, SPFA and FSS have collaborated to simplify, clarify, and standardize the cost transfer process and review. Cost Transfers have been flagged as a compliance risk due to the complexity of the policy/procedure, system inconsistencies, and the bypassing of required documentation requirements and Central Level/Sponsored Project Financial Administration (SPFA) approval. To address these issues, the Cost Transfer Process was updated on January 24 to:

Information Sessions

We invite anyone involved in the Cost Transfer process to attend one of four Cost Transfer Information Sessions being offered in February 2024. This is an excellent opportunity to enhance your knowledge of key Cost Transfer policy and procedure changes.

Register now for one of the following information sessions:

We are here to support you in navigating these changes to ensure a smooth transition. We look forward to seeing you at one of the sessions, but feel free to attend as many as you like. Come with your questions ready for discussion and clarification.

Questions?