We have to send back those balances -- but somehow it seems that, by the
end of the closeout process, they are few and far between.  Maybe, being
smaller, we have a little closer contact between PI's and fiscal
administrators seeking every $ they can find a way to spend.  Incidentally,
we find a lot of foundations say, "keep it" -- but that did involve a phone
call/e-mail, where your idea of materiality is simpler.

Chuck

At 08:38 AM 3/16/99 -0800, you wrote:
>At 09:00 PM 3/15/99, Chuck wrote:
>>
>>Lee, you proposal has great merit.  The cost-benefit is obvious.  Our most
>>cantankerous "customer" is the U.S.Gvt.  I cannot think they would agree to
>>something so practical, because somewhere, somewhen, some poor schmuck who
>>signs such a clause will be castigated for waste fraud or abuse for
>>"giving" away Uncle's money.
>>
>>Industrial sponsors might be a good market fot this approach.  We have not
>>considered it at VCU because almost every project we do for industry is
>>fixed price or fixed unit price (based on, essentially, a time-and-effort
>>model for reaching our estimate).
>
>Chuck,
>
>Stanford agrees with you about the Government - the concept of materiality
>does not exist for NIH and most others. ONR and a couple of other agencies
>are a bit more enlightened, but generally we're resigned to chasing pennies
>for them forever.
>
>Cost-reimbursement and fixed-price contracts are no problem for us at all.
>Nor are minor cost over-runs on any agreement; Stanford has procedures
>whereby the department can absorb cost over-runs to balance the books.
>
>The problem is primarily with Foundation and other Non-Government grants
>which are paid on a payment schedule and have terms requiring the return of
>unobligated balances. If, despite our best efforts, the PI leaves a few
>dollars in the account, we have to return it.
>
>How do folks deal with that?
>
>Lee
>*****************************************
>R. Lee Wood
>Team Lead, Medical School Team
>Grant and Contract Accounting
>Stanford University
>651 Serra Street, Room 110
>Stanford, CA 94305-6215
>Phone: (650)723-5681
>Fax:   (650)725-4598
>Email: xxxxxx@stanford.edu
>*****************************************
>
>
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