Transferring FundsFunds transfers are done to move unexpended funds within the same Project/Grant, but between different Organizations, Programs, Sub-Classes or Accounts.
To transfer funds, it is necessary to submit the following:
- A memo explaining the reasons for the transfer
- A completed Project/Grant Request Form reflecting the current and new budget amounts. Project/Grant Request Form Instructions and a Project/Grant Request Form Example are provided for assistance in completing the form
- A detailed budget broken down by distinct chartfield combinations (This should match the new amounts listed on the submitted Project/Grant Request Form (see '2' above)
Example: You have been awarded a $100,000 grant. You have transferred $5,000 previously and now wish to transfer another $7,000. The initial transfer of $5,000 was allowable without consent from the Grantor because it did not surpass the cumulative threshold of 10%; however, the second transfer will bring your cumulative transfer amount ($14,000) over the 10% mark of the Grant total ($10,000), and would require approval from the Grantor.
Under certain circumstances, the Grantor will allow the transfer of 10% or more the grant award without approval. If that is the case, you should submit the language demonstrating that with the other transfer paperwork required above in 1 - 3.