Comptroller's Office  Policies and Procedures Manual
Effective: 05/01/90	Revised: 12/20/2006

CMP 402-01: Usage of College Overhead Accounts

To provide policy on the allowable uses of "College Overhead Accounts"

University Policy - Business Affairs Update, May 1990

Sources of Revenues:

    The 30% rebate on recovered overhead

    The 5% (up to $1,000) residual funds on fixed price contracts    

    Summer Session over-attainment monies.

These accounts are not to be used for other miscellaneous revenues.

Expenditures:

Expenditures from College Overhead Accounts should be mainly Sponsored Projects related, including:

    Expenditures to promote new funding for Sponsored Projects

    Cost overruns on Sponsored Projects accounts

    Disallowed costs on Sponsored Projects

    Matching Funds required for Sponsored Projects

    Another allowable use of these funds is for faculty development

For additional information, please contact the office of Sponsored Projects Services.