GRANT OR CONTRACT GENERATED INDIRECT FUNDS

PURPOSE

To establish a method of allocating funds received from under external resources as recovery of indirect costs.

APPLICABILITY

All University Departments

POLICY

In order to provide departments with incentives to engage in grant or contract funded activities, the University will allocate 50 percent of any indirect cost recovery received from a grant or contract after July 1, 1989, to the department which has primary responsibility for administering the grant or contract.

Funds will not be allocated to departments for a grant when the normal or usual indirect cost rate has been adjusted by more than 50 percent in making the application, or when the University is requested to reduce the indirect cost rate in order to reduce the total to a level necessary to obtain the grant or contract.

Grants or contracts which fund student financial aid are not covered by this policy.

REFERENCES

None.

INITIATING DEPARTMENT/DIVISION

Controller, ext. 2054

For implementing instructions, please click here: