Policy on the Over-Expenditure of Research Funds

Purpose

The University is responsible for the stewardship and administration of all research funds received by the University in compliance with sponsor terms and conditions and University policy and procedures. The purpose of this Policy is to outline the responsibilities for effective fiscal management of research funds administered by the University. 

Definitions

For the purposes of this policy the following definitions apply:

 “Fund Holder” means an individual responsible and accountable for the management and use of a research fund. 

“Internal Research Funds (IRF)” means funds provided by the University to a Fund Holder to support research-related activities.  IRFs include:

• Faculty Start-up funds;
• Internal funding programs; and
• University matching funds.

 “Over-Expenditure” means the amount by which the recorded and encumbered expenses exceed the budget available.

“Research Funds” means funds provided by a Sponsor, held in trust and administered by the University to pay for expenses incurred in support of research at the University, including:

• Internal Research Funds; and
• Funds awarded through external Sponsors.

 “Sponsor” means the provider of funds for research activities, including both external and internal sources.

Scope and Authority

This policy applies to all Research Funds.

The Vice-President, Research, Innovation and International (VPRII), or successor thereof, is the Policy Owner and is responsible for overseeing the implementation, administrative and interpretation of this Policy. 

Research and Trust Accounting will ensure financial systems are in place to support this Policy and to ensure that Research Funds are not over-expended. 

Policy

The University is committed to providing a supportive research environment through promoting strong financial management practices in compliance with relevant sponsor terms and conditions and University policy and procedures. To this end, the University will ensure that the appropriate financial framework is in place to control over-expenditures in research that can result in potential loss of university funds, increased administrative effort to resolve issues, and increased risk of non-compliance and ineligibility with Sponsor funding requirements. 

Expenditures

1. Research fund expenditures will be limited to the budget approved by the Sponsor within the awarded budget period and must comply with University and Sponsor policies, procedures and agreements. 
2. Research funds will not be over-expended and will not incur expenditure commitments in excess of the funding received or confirmed funding to be received.
3. Fund Holders are accountable for the research project and are expected to act in compliance with Sponsor terms, conditions and agreements, and University policies and procedures.  

Monitoring and Review

This Policy will be reviewed as necessary and at least every three years.  The Director, Office of Research Services, or successor thereof, is the Policy Lead and is responsible to monitor and review this Policy.  

Relevant Legislation

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Related policies, Procedures & Documents

Policy on Conflict of Interest in Research

Policy on the Responsible Conduct of Research and Scholarship

Procedure on the Responsible Conduct of Research and Scholarship

Intellectual Property Policy

Procurement Policy

Procurement Procedures

Signing Authority Policy

Signing Authority and Approval Procedure

Expenses Policy and Procedure