Policy Purpose USC is committed to ensuring responsible expenditure of sponsored research funds in a manner that complies with applicable federal regulations, including those that require all grant charges to be allowable, allocable, consistent, reasonable, and timely. Cost transfers (also known as expense transfers) are designed to correct expenses related to sponsored activities initially charged…
Category: Finance and Budget
Policy Purpose Salaries and wages typically comprise the largest percentage of expenses on a sponsored project. Effort certification is the method by which the government and other sponsors verify that salaries charged to sponsored projects and committed cost sharing accounts reasonably reflect effort spent on a sponsored research project during the reporting time frame. Effort certification is required for every employee who receives a portion of their salary from a sponsored project or cost-sharing account. This…
Policy Purpose The purpose is to provide additional support to the university’s financial sustainability efforts, while still upholding our core academic mission. University schools and departments may adopt more restrictive policies, and such restrictions must be monitored through school and department level controls. Please download policy to access additional details. To access the institutional policies…
When conducting sponsored projects, USC is required to apply the appropriate Facilities and Administrative (“F&A”) rate (also referred to as the “Indirect Cost Rate”) to the appropriate direct cost base for each project.
No individual, school, department, institute, center, subunit, group or organization associated with or affiliated with the university (including associated alumni or student organization) is authorized to open a commercial or retail bank account in or using the university’s name, identification or tax information.
USC schools, academic departments and other university divisions (units) may establish a recharge center (RC) to provide goods and/or services to university activities, programs and organizations.
Many schools make commitments with their chairs or department/division directors which are incorporated in the operating budget.
This policy outlines the rules required for the borrowing or lending of funds by any school or department within the university.
The sponsor’s award document normally includes the form and the amount of the cost-sharing commitment or it may reference the proposal submitted to the funding agency.