I agree with Diana.  These are accounts set up for any residual funds or funds like what you are asking about that may be remaining in a grant account at the time that it ends and is allowed to be retained by your univ.  The accounts could be at the department level, dean level, or what ever level your university determines to be appropriate.  These accounts roll over from year to year, so the univ. does not lose the funds at the end of the fiscal year.

Kristy

Kristy Ford
Grant Management Manager
Office of Sponsored Programs/MHUMC
4750 Waters Ave. Suite 212
Savannah, GA  31404
(912)350-6379

>>> "Key, Diana" <xxxxxx@ADMIN.FSU.EDU> 2/18/2008 4:14 PM >>>
If your sub-agreement clearly states that you are not accountable for
the incentive money and you are entitled to keep it as long as your
participation is acceptable/complete, I would treat it just like a
fixed-price residual. At FSU that would mean moving the budget/cash from
the grant project account to what we call an internal PI Research
Support account.

Diana

Diana L. Key   :)

Assistant Director

Sponsored Research Services

Florida State University

874 Traditions Way

Tallahassee, FL 32306-4166

P: 850-644-8648 F: 850-644-1464

________________________________

From: Research Administration List [mailto:xxxxxx@hrinet.org] On
Behalf Of Barbara Gray
Sent: Monday, February 18, 2008 2:38 PM
To: xxxxxx@hrinet.org
Subject: [RESADM-L] What to do with "Incentive Funds?"

Calling all accountants!

We have a cost-reimbursement sub-agreement with a public university that
receives their funding from a private entity.  We receive a separately
budgeted, no-strings attached incentive of several thousand dollars to
participate in the program.  Our project director would like to be able
to use this incentive money sometime in the future (after the award end
date) for other similar activities.  She wants to put the funds in a
foundation account, but I don't think, as a state university, we can
transfer funds TO our charitable foundation.  Any suggestions from the
accountants out there as to how we should handle these funds so we can
close the grant account at end date and avoid putting the incentive
dollars in peril of the June 30 "use or lose" process?

Thanks.

Barbara

Ms. Barbara H. Gray

Director of Grants & Contracts

Valdosta State University

1500 North Patterson Street

Valdosta, GA  31698-0429

Telephone:  229-333-7837

Fax:  229-245-3853

Email:  xxxxxx@valdosta.edu

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