At Virginia Commonwealth University, we treat any residuals in fixed price
(or fixed unit price) agreements (not restricted to industry for-profit
sponsors, but almost all are) the same. The balance is divided between
direct costs, transferred to a "pool" account for the investigator, and
F&A, collected and distributed as if earned by the original agreement. The
investigator may use the funds for any research or educational purpose; in
practice most use it in support of their research programs.
Chuck
At 03:45 PM 7/10/00 -0400, you wrote:
>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
>
>
>======================================================================
> Instructions on how to use the RESADM-L Mailing List, including
> subscription information and a web-searchable archive, are available
> via our web site at http://www.hrinet.org (click on "Listserv Lists")
>======================================================================
Herbert B. Chermside, CRA
Director, Sponsored Programs Administration
Virginia Commonwealth University
PO BOX 980568
Richmond, VA 23298-0568
Express Delivery Only:
Sanger Hall, Rm. 1-073
11th & Marshall Streets
Richmond, VA 23219
Voice: 804-828-6772
Fax 804-828-2521
OFFICE e-mail xxxxxx@VCU.EDU
Personal e-mail xxxxxx@vcu.edu
http://views.vcu.edu/ospa/
======================================================================
Instructions on how to use the RESADM-L Mailing List, including
subscription information and a web-searchable archive, are available
via our web site at http://www.hrinet.org (click on "Listserv Lists")
======================================================================
