Santa Clara University

1. Overdrafts

If an account is in overdraft upon expiration of the project's performance period and additional funds are not available from the sponsor, the principal investigator, in consultation with his or her department and school, must clear the overdraft by transferring charges to an appropriate fund account. The school is responsible for effecting the clearance of any such unfunded expenditures from within its resources.

2. Cost Transfers

Cost transfers refer to the shifting of expenses between fund accounts. The federal guidelines for cost transfers state, in part, "any costs allocable to a particular sponsored agreement may not be shifted to other sponsored agreements in order to meet deficiencies caused by overruns, to avoid restrictions, or for other reasons of convenience."

To assure that timely corrections are made when costs are mistakenly or inadvertently charged to the wrong fund account, principal investigators are responsible for reviewing their budget statements monthly. Errors should be brought to SPO's attention for correction within 60 days.