Cost Transfer Invoice
The COST TRANSFER INVOICE (CTI) should be used exclusively for transferring the costs of services or supplies between budget entities at the University.
To authorize a budget to issue CTIs
- Budget Name
- Budget Number
- Department Administrator’s name and phone number
- Department name
- Description of the costs to be transferred
- Estimated number of transactions
- Estimated dollar volume per year.
Contact the Budget Office if you need to budget for the CTI credits.
Submitting CTI Charges
**As directed on the invoice, create a consecutive numbering system for invoice numbers. Duplicate invoices cannot be uploaded.**
Pick up the COST TRANSFER INVOICE (CTI) by clicking on the link. Email it to email@example.com for processing. Instructions for filling out a CTI are attached to the form. The CTI form can be saved to your computer for later reference.
Remember, the issuing department must provide the details of all transactions directly to the charged department. To facilitate its project cost accounting, the charged department may provide codes to the issuing department to complete the “Task”, “Option”, and “Project” fields of the CTI form.
A charge should be billed before the close of the month following the date the good was received or the service was performed. For example, if a service was performed in January, it should be billed by February close. Financial Accounting monitors the timeliness of billings and has the authority to remove a department's authorization to issue CTIs. To report a late Cost Transfer Invoice (CTI) billing to Financial Accounting, email firstname.lastname@example.org. Include your budget number, month the late charge was posted to your budget, transaction amount and CTI number.
All CTI issuing departments must maintain adequate accounting records to substantiate charges for goods and services. Records must be retained for six years and be available upon request for audit purposes.
All transfers to federal grants must be made in accordance with Grants Information Memorandum #15.