Faculty Handbook 2020-2021

SUNY College of Optometry

Faculty Handbook 2020-21

Appendix I: Policy on Balance Award Accounts Approved by Dean’s Council February 2016

A balance award account will be created for the principal investigator (PI) of an industry-sponsored research program (with salary offset) for unexpended funds remaining after the program is reconciled and closed. Balance awards for projects with PI salary offset (including applicable fringe benefits) may not exceed the sum of the project PI’s annualized salary offset. For example, for a PI with an annual salary of $100,000, a 6-month project with budgeted 10% PI salary and applicable fringe benefit offset will have an allowable balance award that may not exceed $5000. Balance award funds will be placed into a designated RF account after F&A costs are assessed. The funds will be available to the PI for 24 months. Funds may be used for authorized travel to professional meetings or for other research-related expenses on authorized research projects. Funds from multiple balance awards may be pooled or supplemented for authorized research projects. After 24 months, any remaining funds will be transferred to the research operating account of the College. PIs may request an extension beyond the 24-month period to have access to funds for specific research-related purposes by applying in writing to the Associate Dean of Graduate Studies and Research at least one month before the end of the 24-month period.

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