Recent Policy Updates

Recently the policy has been updated and some highlights include under 4. Requirements Related to Cost Transfers, A. Timeliness- clarifications are made as to what offices may authorize a late cost transfer (transfers that do not meet the timeliness policy criteria), there is clarification around the 6-month restriction of cost transfers and when they must post to the general ledger with an example, examples of cost transfers that do not require special approval, additional exceptions to the timeliness section were added as well as some other clarifications to the policy.

Mostly minor changes, but most notable include:

• added non-capital ET changes in same award as exception
• added refunds and credits as exception. SECTION 4B (Documentation):
  • Quantified “large transfers”
  • Added additional documentation requirements for large, late or early/late transfers
  • Added examples of acceptable documentation for these transfers (BI and FFIT reports)

added to Section 4B that the allocation methodology is used if transferring expenses to multiple PTAs.