Policy for Managing Research Foundation (RF) Residual Balances Signed

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

Overview

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:

  • balances of $100 or less will be transferred to the indirect cost pool
  • balances of more than $100 will be transferred to the dean’s office in which the principal investigator (PI) resides; the dean’s office will work with departmental administrative offices and PIs to transfer balances as mutually agreed.

Applicability

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.

Guidance

Address questions regarding residual balances to the appropriate office.

Office Phone Email
Financial Management 716-645-2660 ubsd.nsgroup@business.buffalo.edu
Sponsored Projects Services
716-645-2634 info@research.buffalo.edu
Clinical Research Office 716-888-4841 ubcro@buffalo.edu