I am looking to compare practices on returning residual unspent funds on a private grant award.

Does anyone retain a certain percentage (e.g. 1%, 5%) of the total award amount if it has not been spent at the end of the grant?  We normally state on the final financial report that we will not return anything less than $100 (it costs us $180 to process a check!) unless the sponsor objects.  We routinely never get an objection from the sponsor.

We are looking to see if we should increase the amount retained, such as a percentage of the whole award, which could be more than $100.

Can anyone share their own practices? If you wish to respond offline, you can send your response to xxxxxx@si.edu<mailto:xxxxxx@si.edu>.

Thanks very much!

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