Policy & Procedure updates: Jan. 24, 2024

The following new and revised policy documents are now published and effective. Please discuss the documents with the appropriate people in your department and send any questions to controllers.office@yale.edu.

• Policy 1305 Cost Transfers Involving Sponsored Projects – Revised
• Procedure 1305 PR.02 Cost Transfers Involving Sponsored Projects – Revised
• Form 1305 FR.01 Late Cost Transfer Calculator – New
• Form 1305 FR.02 Manual Journal – Cost Transfer Justification – Revised and Renumbered
• Form 1305 FR.03 Cost Transfer Documentation Matrix – New
• Form 1305 FR.04 Cost Transfer Change Reason and Code Usage – New

Policy 1305 Cost Transfers Involving Sponsored Projects and Procedure 1305 PR.02 Cost Transfers Involving Sponsored Projects were revised as part of a OneFinance-approved cost transfer project aimed at enhancing internal controls and streamlining and simplifying the policy, procedure, and forms associated with cost transfers. The changes were reviewed by several committees of subject matter experts. Feedback from representatives of the schools and departments was also incorporated into these final versions.

The policy changes are not substantial and are meant to provide a clearer and more concise policy compliant with federal funding regulations. Key changes include:

• Clarification that FD29-Clinical Trials are not subject to Policy 1305; and
• Clarified language regarding the definition of a cost transfer to reduce confusion and misuse of the transactions that are exempt from the definition (reclass and modification of effort estimates (formerly reallocation)).

Updates to the procedure are designed to conform to the policy updates and reflect new Workday functionality pertaining to cost transfers. This functionality is now live and includes some modifications to the approval requirements and routing for certain cost transfers, updated change reasons and cost transfer reason codes, updated questionnaires, and updated help text.

Three new forms are now available that are intended to provide useful tools for end users. Specifically, Form 1305 FR.01 Late Cost Transfer Calculator allows users to easily determine if a cost transfer is considered “late.” Form 1305 FR.03 Cost Transfer Documentation Matrix and Form 1305 FR.04 Cost Transfer Change Reason and Code Usage are reference materials for users in preparing cost transfers. Form 1305 FR.02 (formerly FR.15) Manual Journal – Cost Transfer Justification was renumbered and enhanced to provide a better and more seamless user experience.

Always check the Policies & Procedures page for the latest revisions of all documents. This will ensure that you are utilizing the most up-to-date version.

If you have any questions, please contact Policy & Compliance Services at controllers.office@yale.edu.