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costtransfers

Cost Transfers Involving Sponsored Agreements UOP

Please find below helpful information for the Cost Transfers Involving Sponsored Projects University Operating Procedure (UOP) which became effective on January 1, 2013. This UOP replaced the following policies:

  • Cost Transfers on Grants & Contracts (replaced effective Jan. 1, 2012)
  • Sponsored Projects Expense Transfer (replaced effective Jan. 1, 2012)

Links

Journal Attachment Job Aid

Highlights of the UOP

  • Cost transfer is an after-the-fact reallocation of a cost from one University budget to another.

  • A cost transfer justification form has been created for use with every cost transfer. The first two questions in the justification form should be used with every cost transfer, and the last two questions should be answered if the cost transfer is untimely (greater than 90 days from the date of the original transaction).

  • Untimely cost transfers will be approved only in extenuating circumstances.

  • Within the department, the person who prepares cost transfers and who approves them may not be the same person.

  • The PI should approve all untimely/late cost transfers.

  • Timely cost transfers will be approved by staff members in Sponsored Project Administration (operating) or Cost Accounting Services (payroll)

  • Untimely cost transfers will be approved by Staff members in Sponsored Project Administration (operating) or Cost Accounting Services and by the appropriate VP or designee

The PeopleSoft changes made in light of this UOP

Report / Page Functionality   

Change

Journal Attachments

Ability to attach documents to journals in order to avoid paper copies of backup.  Please do not send paper copies!

Monthly Budget reports

Transaction data for one project or one award can be obtained for multiple accounting periods and up to the day before a report is run.





Last modified April 01 2014 12:42 PM

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