Sponsored Programs Finance Administration and Compliance

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Request for Fixed Price Residual Transfers

Fixed Price Residual Cost Transfers Procedure

(revised 6/28/2010)

This procedure addresses the current process for requesting a residual fund transfer of a fixed price contract upon termination of the project.

Draft a letter to the Director of Sponsored Programs Financial Administration & Compliance (SPFAC), on your letterhead to include the following:

  • Request to Close Restricted Account Rxxxx, entitled “[name of project]” by [sponsor name]
  • Identify the Principal Investigator
  • Send verification that deliverables were met (e.g. letter of acceptance from sponsor will do)
  • Attach a copy of the Final Report, if required
  • If a subcontract was issued, state that the subrecipient has met all requirements and has been paid.
  • Request to transfer the funds from [R account] to [G account]*
  • Provide reasons why funds were not needed/spent

Sign the letter and send the signed letter to Cathe Charlier at Sponsored Programs Financial Administration & Compliance (SPFAC). Do not use the Cost Transfer form (which is only used to correct charges).

Upon receipt of the request, SPFAC will:

  • Verify that effort reports were certified
  • Verify financial information through ISIS
  • Request removal of any remaining committed indirect
  • Obtain necessary approvals

* If no G account exists, add a request for SPFAC to ensure that one is created. (SPFAC:To create a G account for a PI, the assistant director will send an e-mail to Sue Broussard at 337-482-1245 or sue@louisiana.edu)

Please contact SPFAC at 337-482-2840 if you have any questions.