Residual Balances - Moving to Unrestricted Projects

Background

Fixed-price and Clinical Trial agreements are common contracting mechanisms used between the UW and external sponsors. These agreements require the UW to provide goods or services in exchange for an agreed purchase price. The actual cost of providing the agreed upon goods or services may or may not equal the agreed upon purchase price.

If the purchase price exceeds the UW's costs, a residual balance may be available. When the fixed-price or Clinical Trial project is otherwise ready for Closeout, this balance can be transferred to an unrestricted project. The transfer of these balances will occur after all project costs, including all F&A, are posted to the fixed-price or clinical trial project. The unrestricted project is to be used by the PI to further his/her research activities.

Campus Process

• Verify fixed-price project qualifies for this process. (See Required Criteria)
• Anyone can initiate a request using the Residual Balance Request Tool. Please refer to the Residual Balance transfer requests entry desk reference for step by step instructions.
• The request is routed to the PI or Department Chair and designated Departmental and Division contacts for approval.
• When all required approvals have been applied, the request can be submitted to RSP

Additional information and Frequently Asked Questions (FAQs).

If you have questions or need guidance, please e-mail residual@rsp.wisc.edu.