Does anyone's institution require the contract to have language stating that
the residuals can be kept and how that they'll be used?
-----Original Message-----
From: Caskey, William PhD. [mailto:xxxxxx@CMH.EDU]
Sent: Tuesday, July 11, 2000 1:45 PM
To: xxxxxx@HRINET.ORG
Subject: Re: How Do You Handle Residual Funds?
When funds remain after all bills are paid for industry-sponsored projects,
half the funds go to an account used to support the research of the
investigator(s). The other half goes to an unrestricted account in the
investigator's home section/department which is most often used to support
additional research. The investigator is free to support any research s/he
desires as long as it is within the mission of the hospital and meets all
other requirements. We consider all industry-sponsored contracts fixed-price
contracts, unless the terms and conditions state otherwise, and that any
residual is not connected to the original project. We close out the project
account upon tranfer of any residual funds.
Bill Caskey, PhD
Director, Research & Grants Administration
Children's Mercy Hospital
2401 Gillham Road
Kansas City, MO 64108
Voice:(816) 234-3879
FAX:(816) 855-1982
E-mail: xxxxxx@cmh.edu <mailto:xxxxxx@cmh.edu>
This communication is intended only for the use of the addressee. It
may contain information which is privileged or confidential under
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cooperation.
-----Original Message-----
From: Doug Wilkerson [mailto:xxxxxx@MCO.EDU]
Sent: Monday, July 10, 2000 2:46 PM
To: xxxxxx@HRINET.ORG
Subject: How Do You Handle Residual Funds?
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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