policy cost sharing modified Tue Mar 16 2021 16:08:08 GMT-0400 (Eastern Daylight Time)
University of Louisville
July 1, 2004
This policy applies to the University Community (administrators, faculty, and staff).
Committed cost share requires an approved transfer of funds, from a departmental general fund program or otherwise unrestricted source, to a cost share speedtype that corresponds to a related sponsor-funded grant. The cost share speedtype must also have a budget established that agrees with the cost share commitment.
The definition of cost sharing appears in Chapter 3, Section 7 of the Research Handbook.
When award notification is received, the Project Director (PD), through their appropriate Department/Unit, provides the Controller’s Office with the appropriate form to transfer funds from a budgeted general fund source or otherwise unrestricted source to the new cost share speedtype. The transfer will charge (debit) the non-grant, unrestricted source speedtype using account 573000 and will credit the cost share speedtype using account 473000.
This transfer will move available cash from the approved funding source to the new cost share speedtype.
It is important to note that a 573000 expense transfer will treat the amount transferred as an expense of the program and will reduce the budget balance available in that fund program’s 500000 account pool. If the cost share involves salary and fringe benefits from the fund program, a budget revision must be processed to move the appropriate budget amounts from salary (511000 pool) and fringe benefits (512000 pool) to the S&E (500000 pool) of that program. To accomplish this, the department must process a request through Budget and Financial Planning.
Once the cost share speedtype is established, the PD must ensure that appropriate expenses are charged to the cost share speedtype in accordance with University policy and applicable federal/state/sponsor regulations.
Executive Vice President for Research and Innovation
RESPONSIBLE UNIVERSITY DEPARTMENT/DIVISION
Sponsored Programs Administration
J.D. Nichols Campus for Innovation and Entrepreneurship
Louisville, KY 40292
Revision Date(s): 07/01/2004; 08/15/2012; 12/03/2013; 05/03/2016; 02/19/2021
The University Policy and Procedure Library is updated regularly. In order to ensure a printed copy of this document is current, please access it online at http://louisville.edu/policies.