How Do You Handle Residual Funds? Doug Wilkerson 10 Jul 2000 14:45 EST

I would be interested in knowing how those of you involved in the management of industry-sponsored clinical trials handle any funds remaining AFTER all of the work is completed, i.e., after the company has accepted all deliverables required in the contract, and all of the bills are paid.   Do you leave the residual funds in the same account that was established to support the work of the clinical trial, or move them to another account?  Do you place restrictions on the use of the residual funds?  At the end of the trial, do you consider any residual funds to be completely dissociated from the original contract and thus available for expenditure for any research-related activity, assuming that no contract clauses survive the contract which might obviate this option?  What if your investigator wanted to utilize residual funds to finance a collaborative research agreement with another entity for basic research, would you be comfortable with it?

Doug Wilkerson, Ph.D.              Phone:   (419) 383-4252
Assoc. V.P. For Research          Fax:   (419) 383-4252
Professor of Pharmacology         E-mail:   xxxxxx@mco.edu
Research & Grants Admin.          Web: www.mco.edu/research
Block Health Sci. Bldg., Rm. 148
3035 Arlington Ave.
Toledo, OH 43614-5804

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