Funds 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)
Note: You may transfer cumulatively no more than 10% of the total grant amount without approval from the Grantor. If you are requesting a transfer of funds that will result in a cumulative 10% or more transfer of funds, you must seek and receive written approval from the Grantor, and submit with your Project/Grant Request Form a copy of that approval.
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.
Expenditure transfers may take place between any combination of chartfield strings, and be for reasons such as incorrectly charged Fringe, Payroll expenditures or Goods and Services expenditures.
To transfer funds in any of these situations, it is necessary to take the following steps:
Ensure funds are available in the Project/Grant that is to be debited
Submit a completed Request for Transfer of Expenditure Form reflecting the transfers. A Request for Transfer of Expenditure Form Instructions and Request for Transfer of Expenditure Form Example are provided for your assistance in completing this form.
Gather and prepare documentation/back-up that demonstrates:
Submit all forms and back up materials as follows: