Cost Transfers on Grants and Contracts
Cost transfers involving both payroll transactions and goods and services expenditures are processed through the My Financial Desktop (MyFD) application. Learn more about preparing expense transfers using MyFD.
Cost transfers are:
- moving an expenditure onto or off of a grant, contract, or gift budget
- changing the object code of an expenditure on a grant, contract, or gift budget.
The PI and department administrator should review expenditures on their grant, contract, or gift budget monthly to verify that only allowable transactions were posted. When charges/credits have posted on the wrong budget or in the wrong object code, department personnel use the MyFD transactions application to correct the charge/credit.
The MyFD transaction application does not currently facilitate the processing of revenue transfers, Cost Transfer Invoices (CTI) or Internal Sales Documents (ISD). The application requires the identification of a specific expense transaction to tag for transfer or correction.
Refer to GIM 15 for policies and procedures on cost transfers involving Grant and Contract budgets.
- OMB A-110
- OMB A-21
- GIM 14--Delegation of Signature Authority
- GIM 15--Transfer of Expenditure Between Grant or Contract Budgets
- GIM 23--Costing Policy for Sponsored Agreements