Overages on Accounts: Processing Procedures
The purpose of this procedure is to minimize the use of unrestricted funds to cover overages on any research projects and assoicated cost-share accounts.*
The PIs are firest and foremost responsible for overages on any of their accounts. The Department is responsible for helping the PI monitor their accounts. If the account has an overage, it should be addressed as soon as possible. Monthly review of accounts is expected.
When an overage exists, the Department and GCS will coordinate the closing of the project and take the following actions. (Move off salary overages first.)
1) Move the overage to another of the PI’s unrestricted accounts
A PI’s salary overages can be moved via a time card transfer by the Department and covered by the following discretionary accounts:
Sr. Scientist Chairs
Sr. Technical Staff Awards
Early Career Scientist Award
Assistant Scientist Endowed Support (ASES)
2) If no accounts are available, the Department should use Department Royalty accounts if the Department has Royalty income.
3) If the PI and Department have none of the resources listed in (1) and (2) above, and
a) the overage is on an internal award (e.g., Institute award, Interdisciplinary or Independent Study award, or Innovative Technology Award), funds to cover the overage will come from the source of the award. That is, unrestricted funds associated with the award will cover the overage.
b) the overage is on an external award (e.g., federal awards, non-government grants), overages will be covered by Institution’s general write-off account (unrestricted funds).
4) Deviations from these procedures are at the discretion of the Deputy Director & Vice President for Research and the Vice President of Finance & Accounting.
* Cost Share accounts
To reduce overages on cost share accounts, a review of the spending plan at least three months before the end of the project is recommended.
PIs should not overspend their budgeted salaries (keeping cost share to approved amounts).
PIs should also not leave spending of other costs to the end of the projects as this type of spending is reviewed by auditors.
Last updated: October 11, 2016