Disposition of Balances of Unrestricted or Fixed-Fee Grants and Contracts (Policy 6090)
University Policy 6090
Last Revision Date
Vice President and Chief Financial Officer, (208) 426-1200
Scope and Audience
This policy applies to all balances related to unrestricted or fixed-fee grants and contracts.
State Board of Education Policy, Section III.J.3
1. Policy Purpose
To establish the procedure for the disposition of balances resulting from unrestricted or fixed-fee grants and contracts.
2. Policy Statement
This policy intends to clarify the appropriate course of action to be taken in regards to balances related to grants and contracts.
3. Responsibilities and Procedures
3.1 Guidelines for Disposal
3.1.1 Surplus Funds
If the account balance after the distribution of indirect costs (if any) is a surplus and there is no requirement to return unused funds to the sponsor, the Controller’s Office will transfer the balance to the departmental development account controlled by the department head.
3.1.2 Negative Balances
If the account balance is negative after the computed allocation of any required direct costs, the Controller’s Office will apply the department’s share of indirect cost funds to the deficit. Any indirect costs funds then remaining will be credited to the department head’s development account.
3.1.3 Deficit Situations
If the account balance is negative after the computed allocation of any required direct costs and the department’s share of the allocated indirect costs applied to the deficit is still not enough to bring the balance to zero, the Controller’s Office will contact the department head, who must then arrange for additional funds to correct the deficit situation.
July 1995; October 2007