Surplus

Policy on Distribution of Surplus Funds
From Fixed Priced or Performance Based Grants/Contracts

The research officer for The CSU, Chico Research Foundation shall determine the availability of "surplus funds" from an externally funded grant or contract.  The distribution of surplus funds shall be at the discretion of the research officer or his/her designee (the director of the Office of Research and Sponsored Programs, unless otherwise specified) using the following guidelines:

  • This policy only applies to surplus funds available at the end of the project period and after completion of all deliverables required by the grant or contract.
  • All costs charged to the project must be allowable and allocable to that specific project and the project must be successfully completed so that the funds are legally earned.
  • If no indirect or only partial indirect costs are allowed under the original agreement, the balance of surplus or unexpended funds will be used to recover the "full indirect costs" allocable to the specific project. The full indirect cost for non-federal projects is 20 percent of total direct costs; the full indirect cost for federal projects would be the current rate approved by Department of Health and Human Services (DHHS) which is based on salary and wages (not including fringe benefits). Please refer to the current negotiated rate on file with Sponsored Programs.

After all of the above items are taken into consideration and calculated, the following steps should be applied:

  • Any surplus or unexpended funds will be shared equally (50/50) between the project director responsible for the conduct of the specific project, and the Graduate, International, and Sponsored Programs Faculty Professional Development Program.
  • The project director's share of the surplus funds will be transferred to an appropriate account, over which the project director has full control and responsibility.

Any variation in the distribution of surplus funds, from the policy stated above, must be submitted in writing to the director of Sponsored Programs for approval.