Cost Transfers Essentials

The Cost Transfer Essentials LevelUP module is a comprehensive overview of cost transfers in the financial management of sponsored projects; this module is tailored for early and mid-career professionals. Participants will learn about the importance and fundamentals of cost transfers, including what they are, why they are significant, and how they impact project management. The module covers both regulatory and institutional controls, detailing the steps for making, documenting, and submitting cost transfers. The training also explores the central office review process, approval mechanisms, and strategies for managing audits and ensuring compliance. Separate sections are devoted to personnel and non-personnel cost transfers, addressing the unique considerations and challenges associated with each.

After completing this module, you will:

• Gain a solid understanding of cost transfers, including their definition, importance, and impact on the financial management of sponsored projects.
• Learn how to create, document, and submit cost transfers that adhere to regulatory and institutional guidelines.
• Learn the different processes required to effectively handle personnel-related cost transfers and non-personnel-related cost transfers.
• Develop skills to navigate the review and approval processes effectively and understand how to prepare for and respond to audits to maintain compliance.
• Gain an understanding of the audit process, including that factors may trigger and audit and how to effectively respond if an audit is triggered.

CEU: 2.5 hours