Residual Balances - Moving to Unrestricted Projects

Required Criteria: All of the following must be met 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 (i.e., 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 fixed-price project.
  • The project budget in WISDM has been verified to accurately reflect the cash received for all invoices and/or required payments. Note: If this is a Clinical Trial, please ensure the budget accurately reflects all 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 account. (All transfers have been completed and are applied to the project in WISDM.)

Unrestricted Project for Residual Balances: All unrestricted projects will be created using the following criteria:

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

Guidelines for 233 Discretionary Research Funding (DRF) Projects: Note: All 233 projects are managed by Accounting Services

  • One 233 DRF project can be created for each PI.
  • All of the PI's eligible residual balances from fixed-price projects can be moved to the same 233 DRF project.
  • Funds added to the project should only be funds moved from fixed-price projects through the residual transfer process. (Sales credits and other revenue/cash should not be added)
  • 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 needed again.