Subject:  Residual Funds on Fixed Price Awards No.        98-3
Date:    May 5, 1998

(Note: This Important Notice is being sent to Account Managers, Chairpersons, Deans and Chancellors. Please forward to others who have a need to know.)

This Important Notice supersedes Important Notice # 96-3 regarding the transfer of residual funds.

Residual funds on fixed price awards that are no longer subject to the restrictions of the contract and grant fund group must be moved. The department is responsible for notifying Contract and Grant Administration upon the conclusion of project related activities. On the Indianapolis campus the funds may be moved to a designated fund account, and on the Bloomington campus the funds may be moved to a designated fund account or a general fund account. On other campuses, check with the campus chart manager to determine what account type is recommended. Indirect cost should continue to be transferred to the appropriate responsibility center income account.

The following is an example of the correct way to complete the Transfer of Funds document in the Financial Information System (FIS).


C&G Account Object code 5199 $12,500.00


Departmental Account Object code 1699 $10,000.00
ICR Account Object code 1803 $  2,500.00


Please direct any questions to the C&G Analyst for your account.