Â鶹´«Ã½

 

Today@Dal

» Go to news main

Unexpended Residual Funds in Research Accounts Policy

Posted by Â鶹´«Ã½ Research Services on October 4, 2012 in General Announcements

To: Â鶹´«Ã½ Research Community
From: Â鶹´«Ã½ Research Services and Financial Services
Re: Unexpended Residual Funds in Research Accounts Policy

The responsible management of research funds requires that the principal investigator (PI) authorize only allowable expenditures from research accounts in accordance with the terms of the agreement, Â鶹´«Ã½ policies, and any guidelines of the funder. Once a contract or grant has been completed in accordance with the terms of the research agreement, further spending from the account is terminated and the account is closed.

Â鶹´«Ã½ has instituted a new Unexpended Residual Funds in Research Accounts Policy which defines the policy and procedures to be followed regarding the use of any unexpended residual balance remaining in a research account upon completion of deliverables for a contract or the final reporting for a grant (where the research grant or contract does not require return of the unexpended funds to the funding agency upon termination of the project). Residual research funds will be consolidated into a ‘continuous research account’ providing easier account management and greater spending flexibility for researchers. The policy also clarifies the University’s intent that the unexpended residual funds should be actively used in a timely manner to promote research activities. The PI is given the first priority of use of the funds. Should the PI not have need of use of the funds then the policy creates a process for the funds to be used to support research activities at the Faculty and institutional level.

Researchers who hold accounts with residual balances which qualify for transfer to a new continuous research account will be contacted. Your patience is appreciated as Financial Services staff work through the existing accounts with residual balances.

A copy of the policy can be found on the DRS website at:

If you require further information, please contact Lynn Burgess, Manager of Research Accounting, at lynn.burgess@dal.ca.