Faculty & Staff

Monitoring of Expense Allocations

Funds provided by USG and non-USG funding agencies generally require that those resources be accounted for on a project-by-project basis, and therefore cannot be commingled. Good financial management requires that those responsible for expending awarded funds exercise appropriate oversight over the sources and uses of those resources.

As laid out in the University’s policy on Monitoring and Reconciling Project Accounts, PIs and those that assist them in assigning expenditures to funding are required to exercise regular oversight over the financial records of each project. See the University policy for the full set of monitoring requirements.

Cost Transfers

PIs and other project staff must make every effort to allocate their project costs to the appropriate account(s) at the time the costs are incurred. However, in certain circumstances, it is permissible to transfer costs from one account to another. This is known as a cost transfer. Such cost transfers are allowable only when:

• There is a direct benefit to the project account being charged, and
• The cost transfer is accompanied by appropriate documentation

Cost transfers must be prepared and submitted within 90 days following the end of the month in which the original charge was posted to a University account; thereafter, cost transfers are not permitted except in extenuating circumstances.

Cost transfers that remove expenditures from projects are not subject to the 90-day time limit, and must be processed immediately when it is determined that an expenditure charged to a project is not appropriate to that project. A strong justification must also be provided.

For the full text of the policy see Columbia University Policy on Sponsored Project Cost Transfers.