Operating Policies and Procedures Manual

Effective Date:  07/01/93
Policy Number:  05-08
Section:  Finance and Administration
Subject:  Indirect Cost Funds
 

POLICY

Indirect cost funds collected each fiscal year in excess of $150,000 will be transferred into a carry-over account in the office of Research  and Academic Affairs.

The deposited funds are to be divided as follows:

• 30% retained in the carry-over account and used to promote the generation of additional external funds and to contribute to the grant administration.

It is intended that such funds be employed in areas such as grant matching funds, faculty grantsmanship training, and other grant promotion related activities.

• 70% to be distributed among the colleagues in proportion to the colleges' contribution to the university's total grant expenditures for the fiscal year. The carry-over funds are to be used to promote the generation of additional external funds and faculty scholarship.

Proposed procedure recommended for approval by the Council of Academic Deans 10/11/1999. Adopted by UPC 11/30/1999.

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Last updated on 02/16/2004