Background: Fixed-price agreements are a common contracting mechanism between the UW and external sponsors. These agreements require the UW to provide services or goods in exchange for an agreed purchase price. In the course of providing these services or goods, the UW may or may not incur costs that equal the purchase price.

If the purchase price exceeds the UW’s costs, a residual balance may be available. Upon completion of the project, this balance will be transferred to an unrestricted account. The transfer of these balances will occur after all project costs, including all F&A, are incurred. The unrestricted account is to be used by the PI to further his/her research activities.

Campus Process:

• PI and Dept. route “ Transfer of Residual Balance from a Fixed-Price Project ” (WORD | PDF) memo to Dean’s Office for submission to RSP.
• One residual account per PI.
• Residual accounts will have sponsor of “Multiple Donors” and no F&A. Project description: “Discretionary Research Funding.”
• All residual balance accounts will be created in fund 133 and coded with document type “2” (gifts) for conversion to fund 233 at a later date.

NOTE: This process is only for the movement of positive balances. If a fixed-price account is completed and in overdraft status, a transfer of expenditures from the overdrawn account using cost transfer forms is still required.