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Sponsored Funds |Policies & Procedures | Financial Plan

Policies and Procedure

University at Albany
Policy for Managing the Research Foundation Indirect Cost Allocation
April 2004

Campus Financial Plan - Administrative Base Allocations
Each year the office of Financial Management and Budget authorizes the establishment of projects in support of the campus financial plan. These projects are established for a period of one year coinciding with the current fiscal year. Budgets are based on the approved allocations included in the Campus Financial Plan. Personal Services must be spent in accordance with the approved allocation. All payroll appointments forms, payroll change forms, and labor distribution forms require the approval of Financial Management and Budget prior to processing.

After the project term date, project managers have 90 days to close out any outstanding purchase orders or encumbrances. When the 90 day period has passed, no further activity will be allowed and the project will be closed. The balance will revert back to the appropriate Vice President.


Campus Financial Plan - Special One-Time Allocations
Special one-time allocations are established as needed and have a limited life. Once the allocation has reached its term date, the project manager has 90 days to close out any outstanding purchase orders or encumbrances. When the 90 day period has passed, no further activity will be allowed and the project will be closed. The balance will revert back to the Campus Financial Plan.


Incentive and Development Allocation
The Incentive and Development Allocation is maintained by the Vice President for Research and is used for the following purposes: indirect cost return to qualifying units; internal grant programs including Faculty Research Awards Program; Equipment Matching Program and the Journals and Conferences Program; and special one-time allocations as needed. Typically, projects are established for a one-year period and are extended for additional time at the discretion of the Vice President for Research. The life of these projects cannot extend beyond the two-year period established by the initial indirect cost allocation award.

After the project term date, project managers have 90 days to close out any outstanding purchase orders or encumbrances. When the 90 day period has passed, no further activity will be allowed and the project will be closed. The balance will revert back to the Vice President for Research.


April 21, 2004

 

 




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