Residual Balances - Moving to Unrestricted Projects

Page Updated: November 29, 2022

Required Criteria

The following must be true before submitting a request to move the remaining balance of a fixed-price project to an unrestricted 233 Discretionary Research Fund (DRF) project:

  • The project is Fixed-price or Clinical Trial and there is no provision for return of unexpended funds to the Sponsor.
  • All payments required from the Sponsor have been received by the UW and appropriately applied to the project.
  • The project budget has been verified to accurately reflect all actual and anticipated payments including study closeout payments.
  • All required project work is complete, and all reports and other deliverables have been provided to the Sponsor.
  • All expenses related to the completed work have been properly charged to the project.
  • All transfers have been completed and are applied to the project.
  • All encumbrances on the project have been closed.
  • The unexpended budget balance is at least $300.00

Unrestricted Project for Residual Balances

Unrestricted projects will be created using the following criteria:

  • Fund 233 Gift project
  • The sponsor will be "Multiple Donors"
  • The description will be "Discretionary Research Funding" (DRF)
  • One project per PI
  • Only residual balance transfers will be added to the established DRF project

233 Discretionary Research Funding (DRF) Guidelines

Note: All 233 projects are managed by Gift Management in Accounting Services

  • One 233 DRF project can be created for each PI
  • All the PI's eligible residual balances can be moved to the same 233 DRF project.
  • Funds added to the DRF project should only be funds moved through the residual transfer process. (Sales credits and other revenue/cash cannot be added)
  • Expenses charged to a 233 DRF project should not exceed current total revenue.
  • Closeout requests should be sent to giftmgt@bussvc.wisc.edu if the PI is no longer at the UW or the PI is an inactive Emeritus professor. All residual funds are moved to the same 233 DRF project, so closeout should not be requested unless it will never be used again.