Faculty Handbook

SUNY College of Optometry

Faculty Handbook 2022-23

APPENDIX I:

POLICY ON BALANCE AWARD ACCOUNTS Revised and approved by Dean’s Council 2/3/22

A balance award account will be created for the principal investigator (PI) of an industry-sponsored research program for unexpended funds remaining after the program is reconciled and closed. To close a program and the corresponding RF account, the PI must submit an Authorization to Close Research Program form (see below) to the Associate Dean for Graduate Studies and Research. Balance awards on projects without PI salary offset may not exceed $3000. The award will be based on an offset of up to $50 applied to the PI balance for each subject examined within the CVRC in which normal subject fees are supported by the grant. An offset of up to $50 will be applied in addition for each subject examined by the PI outside of the hours for which they are assigned to the CVRC. These offsets will be included with any unexpended funds to create the balance award. Balance awards for projects with PI salary offset (including applicable fringe benefits) may not exceed the sum of the project’s annualized salary offset in additional to the subject payment offsets described above. 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. The balance award will be derived from unexpended funds as well as subject offsets as described in the previous paragraph. The balance award funds will be available to the PI for 24 months. Funds may only be used for authorized travel to professional meetings or for other research-related expenses on authorized research projects. After 24 months, any remaining funds will be transferred to the research operating account of the College. PIs can 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.

136

Made with FlippingBook - professional solution for displaying marketing and sales documents online