Auditors consider an excessive number of cost transfers to be an indication of poor financial management and a high risk. Because of this, Harvard requires that cost transfers be justified soundly. To ensure cost transfers meet policy expectations, CT preparers are strongly encouraged to complete the Cost Transfer Preparer Checklist, a resource offered by OSP.
October 1, 2020: Policy Updates
- All CTs must be reviewed and approved by the department’s Lead Research Administrator using the Cost Transfer Reviewer Checklist. The checklist is a straightforward, fillable PDF.
When a CT is ready for submission, please email the necessary documentation to RAS_Cost_Transfer@fas.harvard.edu for processing
- Use "Under 90-day" or "Over 90-day" in the subject line.
- Approved CTs will be sent to the department with a request that it should be saved in GMAS. Please note that over 90 days CTs must be also approved by OSP before posting.
Please only use the CT batch naming convention for journals that fall under the CT policy (see below):
Journal Voucher Batch Name naming convention
"JV^TUB^DEPT^ Preparer's Initials^Description^Date (or Date Range) of original transaction(s)"
CT Journal Voucher Batch Name naming convention
"CT^TUB^DEPT^ Preparer's Initials^Description^Date (or Date Range) of original transaction(s)"
Transaction Line Description convention
Describe the journal, referencing the original expense.
Example: "Transfer June '07 salary to fund 123456"
Cost Transfer Resources from RAS
Cost Transfer Resources from OSP