** High Priority **
Plus you get into UBI and here comes the IRS.
Mary Spijkerman
>>> xxxxxx@VCU.EDU 10/31/03 02:04PM >>>
Yes, "you know it when you see it". A look at the actual charges will
usually pretty clearly indicate if the PI has failed to charge to this
project costs that reasonably apply to it. A big giveaway is no PI effort,
or way too little effort. You have to watch out for the researcher who
charged real costs of this project somewhere else, in order to build up a
nest egg. Your policy of who gets the surplus and how it may be used might
affect people's behavior in this arena.
And carefully consider if the project was agreed to at less than full F&A;
if so, you may want a policy that takes the F&A difference off the residual
before making it available for other research and education uses.
Having a little surplus indicates good, conservative budgeting. Having
lots, especially if it is consistent, suggests making a "profit", which a
non-profit should not consistently do.
Chuck
At 02:05 PM 10/31/2003, Doug Wilkerson wrote:
>How much Residual is too much??? After your PI certifies that he/she has
>paid all internal and external bills (and you verify this however you can)
>and you have a "release" from the sponsoring company saying that they are
>satisfied that you have delivered everything that you promised, what
>percentage of the revenues would you expect (and be comfortable with)
>being left in the study account? Is 10% OK? How about 30%? How about
>70%? OR, is too much like pornography "you know it when you see it"?
>
>
>
>
>Doug Wilkerson, Ph.D. Phone: (419) 383-4252
>Assoc. Vice Pres. for Research Fax: (419) 383-4262
>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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Herbert B. Chermside, CRA
Director, Sponsored Programs Administration
Virginia Commonwealth University
PO BOX 980568
Richmond, VA 23298-0568
Express Delivery Only:
Biotech One, Suite 113
Virginia Biotechnology Research Park
800 East Leigh Street
Richmond, VA 23219
Voice: 804-828-6772
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OFFICE e-mail xxxxxx@VCU.EDU
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