Get the free COST TRANSFER REQUEST FORM - finance uark

This form is required for final approval of any expense transfer or labor distribution transfers to sponsored program and required cost share cost centers submitted more than 90 days after the original

How to fill out cost transfer request form

How to fill out COST TRANSFER REQUEST FORM

1. Begin by entering the date at the top of the form.
2. Fill in the requestor's name and contact information in the designated fields.
3. Specify the project codes or account numbers involved in the cost transfer in the appropriate sections.
4. Provide a detailed reason for the cost transfer request, including any relevant supporting documentation.
5. Indicate the amount of funds to be transferred and from which accounts.
6. Sign and date the form to certify the accuracy of the information provided.
7. Obtain any necessary approvals from supervisors or department heads.
8. Submit the completed form to the finance or accounting department for processing.

Who needs COST TRANSFER REQUEST FORM?

1. Any employee or department wishing to reallocate costs between different projects or accounts.
2. Project managers needing to adjust funding allocations for budgetary compliance.
3. Finance or accounting personnel responsible for managing budget transfers.

People Also Ask about

What is the uniform guidance for cost transfers?

Cost transfers are governed by the Uniform Guidance (2 CFR Part 200) and agency specific policies. These transfers involve reassigning expenses after they've been initially recorded, and are subject to scrutiny to ensure compliance with Federal regulations.

What is a cost transfer policy?

Cost transfers, or the shifting of previously incurred costs from one account to another, are one of the top audit risks for sponsored awards and frequently cited in financial audits of higher education institutions.

Which section of the Uniform Guidance 2 CFR 200 addresses allowable costs?

§ 200.408 Limitation on allowance of costs. Statutory requirements may limit the allowability of costs. Any costs that exceed the maximum amount allowed by statute may not be charged to the Federal award. Only the amount allowable by statute may be charged to the Federal award.

What is a cost transfer journal entry?

A Cost Transfer/Correction (COR) Journal is used to move incorrectly posted transaction(s) from one chartstring to another. A COR Journal is the primary method of managing a negative chartstring balance, as it is used to reclass expenses which caused the deficit to another chartstring.

What is a transfer form?

Request for transfer form is to be submitted by an employee when requesting a transfer or a change of work location.

How does the organization ensure that all cost transfers are legitimate and appropriate?

A cost transfer is a reassignment or transfer of an expense that was previously recorded elsewhere in the general ledger. Cost transfers receive additional scrutiny when the expense is being transferred onto a federal award since these transfers must comply with OMB Uniform Guidance.

What is a transfer request form?

A transfer request form is used to request the transfer of a course or sports activity from one school or organization to another. Used primarily for a school or sports teams/clubs.

What is the purpose of a transfer request?

What is the purpose of a transfer request? A transfer request is for when you wish to work for the same company in another location or you want to change your current position at your present company.

What is an example of a cost transfer?

A researcher initially charges $1,000 of laboratory supplies to a sponsored research project. Later, it's determined that $200 of those supplies were used on another non-sponsored project. To correct this, a cost transfer would be initiated to move $200 of the expense total to a non-sponsored project.

What is an example of a transfer request?

I am writing to formally request a transfer from my current position as [Your Current Position] in the [Current Department] at [Current Location] to the [Desired Department] at [Desired Location]. The reason for my request is [briefly explain your reason, such as family, health, career development, etc.].

For pdfFiller’s FAQs

What is COST TRANSFER REQUEST FORM?

The COST TRANSFER REQUEST FORM is a document used to formally request the transfer of costs between different accounts or funding sources within an organization.

Who is required to file COST TRANSFER REQUEST FORM?

Individuals or departments that need to move expenses from one budget line or account to another within an organization are required to file the COST TRANSFER REQUEST FORM.

How to fill out COST TRANSFER REQUEST FORM?

To fill out the COST TRANSFER REQUEST FORM, complete all required fields including the account numbers, the amount to be transferred, justification for the transfer, and any necessary signatures before submission.

What is the purpose of COST TRANSFER REQUEST FORM?

The purpose of the COST TRANSFER REQUEST FORM is to ensure proper accounting practices by documenting and approving the reallocation of costs, thus maintaining financial integrity and transparency.

What information must be reported on COST TRANSFER REQUEST FORM?

The COST TRANSFER REQUEST FORM must report information such as the source and destination account numbers, the amount being transferred, a detailed justification for the transfer, and signatures from relevant parties.