retaining unspent funds on private grant awards
Otiji, Karen
(28 Feb 2011 23:57 EST)
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Re: retaining unspent funds on private grant awards
Lori Johnson
(01 Mar 2011 10:04 EST)
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Re: retaining unspent funds on private grant awards
Matthew Katz
(01 Mar 2011 11:54 EST)
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Re: retaining unspent funds on private grant awards Otiji, Karen (01 Mar 2011 12:06 EST)
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Re: retaining unspent funds on private grant awards Otiji, Karen 01 Mar 2011 12:06 EST
Thanks very much! ************************************************************ Visit OSP's website at: http://prism.si.edu/osp/index.htm ******************************************* Karen Elliott Otiji, MGA, CRA Assistant Director of Grant Management Office of Sponsored Projects Smithsonian Institution P.O. Box 37012, MRC 903 Washington, DC 20013-7012 direct phone: (202) 633-7111 main phone (202) 633-7110 fax: (202) 633-7119 -----Original Message----- From: Research Administration List [mailto:xxxxxx@lists.healthresearch.org] On Behalf Of Matthew Katz Sent: Tuesday, March 01, 2011 11:55 AM To: xxxxxx@lists.healthresearch.org Subject: Re: [RESADM-L] retaining unspent funds on private grant awards Generally speaking, if there are significant funds left over on a private grant award, we first see if the project is still on-going and get the PI to request a no-cost extension. It really depends on the nature of the award and project. If it's a private contract and the terms have been met, then we keep any balance for the investigator to use. Any remaining overhead is taken at that point, once we receive in writing that the project has been completed to satisfaction. I would agree, anything $100 or less should not be returned. Matthew D. Katz, MHA Assistant Vice President, Sponsored Research and Contract Management Western University of Health Sciences 309 E. 2nd Street Pomona, CA 91766 xxxxxx@westernu.edu (909) 469-5567 (909) 469-5569 FAX -----Original Message----- From: Research Administration List [mailto:xxxxxx@lists.healthresearch.org] On Behalf Of Otiji, Karen Sent: Monday, February 28, 2011 8:57 PM To: xxxxxx@lists.healthresearch.org Subject: [RESADM-L] retaining unspent funds on private grant awards 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! ====================================================================== 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.healthresearch.org (click on the "LISTSERV" link in the upper right corner) ====================================================================== ====================================================================== 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.healthresearch.org (click on the "LISTSERV" link in the upper right corner) ====================================================================== ====================================================================== 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.healthresearch.org (click on the "LISTSERV" link in the upper right corner) ======================================================================