The Fixed Price Residual Balances Guidance has been updated effective July 1, 2021.
The changes to the guidance and associated form were made based on feedback from users from across the University. A Fixed Price Award Residual Balance Transfer Form will now be required for any sponsored awards with a remaining balance of $250 or more at award end, when the sponsor allows the balance to be retained. Balances of $10,000 or more will require a Balance Justification, PI signature, and OSP signature on the form. Please note that schools may have local procedures that are more restrictive. Links to school contacts and school procedures are available in the Fixed Price Residual Balances Guidance.
The changes to the Fixed Price Award Residual Balance Transfer Form include:
- Streamlined 1-page fillable PDF
- Auto-calculated financial fields
- Required fields noted
- Instructions on how to fill out and route the form for approval