Clear Cost Overruns

 
•  Cost overruns cannot be cleared to another sponsored project
 
•  The department is responsible for providing alternate funding for the direct cost portion of the cost overrun
 
•  SPF notifies schools monthly that any cost overrun remaining nine months after the termination of a sponsored project, if not cleared, will be moved by the Controller’s Office to the School’s  non-sponsored project
 
•  Clear cost overun – These transactions are Internal Transfers and must be processed in the Internal Transfer module, to navigate here in ARC, go to: Main Menu > Columbia Specific > General Ledger > Internal Transfer JournalEntry
 
•  The department may initiate the transfer
 

ChartField

Credit

Debit

GL Business Unit

COLUM*

COLUM*

Account

70435

75435

Department

Grant Dept

Dept Provide

PC Business Unit

SPONS (SPF) or GENRL (CTO)

GENRL

Project

Grant Project

Dept Provide

Activity

Grant Activity

Dept Provide

Initiative

Dept Provide

Dept Provide

Segment

Dept Provide

Dept Provide

Site

Dept Provide

Dept Provide

* The GL BU will almost always be COLUM