Regardless of the funding source, all transactions should be reasonable, allowable, and have an appropriate business purpose. There are standard questions that should be asked for every expense.
- Does it support the statement of work?
- Is the expenditure allowed (or not expressly prohibited) by the institution?
- Is the expenditure allowed (or not expressly prohibited) by the sponsor?
- Was it included in the budget?
- Do I have adequate documentation? Does it answer the question “why” for the expense?
When doing a cost transfer for a sponsored project, the additional questions below should be considered.
- What message does it send?
- Who has concern and risk?
- Is there an impact to allocability or certifications?
It is always important to document your decisions, especially related to sponsored projects. Supporting documentation should:
- Adhere to University of Florida requirements for that particular expense
- Be complete enough for review and approval
- Answer questions a reviewer, approver or auditor might have about the transaction, and include justification for any unusual or late expenses (such as the last six months of the project)
- Explain any allocation decisions between sponsored projects
The University requires adequate information exists for all approved transactions. It is recommended to attach supporting documentation to the official system of record. Information about uploading and viewing supporting documentation in OnBase is available on the Disbursements website.
1/31/2021: updated content
Internal Controls & Quality Assurance: (352) 392-1321