Transfer to Trust Funds from Non-Federal Projects

Page Updated: January 23, 2020

Temporary Investment

Sponsored project funds may be transferred to trust funds for temporary investment only when all the following criteria are satisfied:

• The Sponsor's written policy requires or expects the University to invest the funds to earn income for the sponsored program or related activities.
• The award must be granted for a period of two years (24 months) or longer.
• The funds available for investments (funds remaining after the first year) must exceed $50,000.

Procedures to Establish the Temporary Trust Fund

• RSP will develop an annual expenditure plan in consultation with the PI and/or department staff and instruct Trust Funds to establish an account.
• RSP will establish a separate 133 Project ID for investment income. Unless specified by the donor, the original 133 Project funds must be fully spent before the investment income Project funds may be used.
• After the first year, per the expenditure plan, RSP will draw from the Trust Fund account every three months to maintain a positive cash balance in the 133 Project. Investment income may be included in these transfers if needed. Once a year, if needed, adjustments will be made to the expenditure plan.
• Upon termination of the project and closing of the 133 Project, all investment income will be transferred from the Trust Fund account back to RSP for deposit into the 133 investment income Project.