Published February 1, 2017
The Residual Balance on Fixed Price Contracts for Sponsored Projects Policy, approved and signed by President Tripathi, is available in the University Policy Library.
The Residual Balance Policy provides guidelines for the management, accounting and proper use of Research Foundation (RF) residual balances for fixed price awards including, but not limited to, industry-sponsored clinical trial awards.
The residual or unobligated cash balance of funds remaining in a fixed price sponsored account at termination of a project will be transferred as follows:
This policy applies to fixed price contracts administered by Sponsored Projects Services and industry-sponsored clinical trials administered by the Clinical Research Office with balances that are not required to be returned to the sponsor.
This policy does not apply to cost-reimbursement awards.
Address questions regarding residual balances to the appropriate office.