Contact Officer: Associate Director, Research Accounting
The purpose of this procedure is to establish the process for determining and treating residual (unspent) balances in non-tri-council research projects.
|Financial Services (Research Accounting)||
Determination of Residual Balances
Research projects are deemed to be complete at the earlier of:
Upon completion of a research project, any residual funds will be returned to the funding agency if required. Any funds that are not required to be returned to the funding agency will be deemed to be internally restricted residual balances and will be dealt with in accordance with this procedure as detailed below.
This procedure does not deal with residual tri-council funding.
|Financial Services (Research Accounting)||Treatment of Internally Restricted Residual Balances
Once it is determined that a project which contains internally restricted residual balances is complete, the following steps will be performed by Financial Services (Research Accounting):
|Principal Investigator (PI)||
Use of Internally Restricted Residual Balances
Residual balances must first be used to reduce or eliminate over-spending or other amounts owing by the PI.Any remaining funds once other amounts owing by the PI have been eliminated must be used for research purposes and in accordance with the Special Research Project Policy/Procedure.
Date Approved: 6 July, 2015
Approval Authority: Vice-Principals' Operational Committee
Date of Commencement: 1 August 2015
Date for Next Review:
Related Policies, Procedures and Guidelines: Special Research Project Policy
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