Re: What to do with "Incentive Funds?" Kristy Ford 19 Feb 2008 07:41 EST
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 ====================================================================== 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") ====================================================================== ====================================================================== 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") ====================================================================== ====================================================================== 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") ======================================================================