Released Funds

Released funds are defined as the salary portion of university-budgeted faculty academic year compensation which remains unobligated at the end of a University fiscal year as the result of partial/full support from a sponsored award providing full University on- or off-campus indirect costs and fringe benefits.

The following conditions must be met in order for the funds to be released:

• Funds to support the salary must have been included in the University appropriated budget.
• The sponsored award must provide full University on- or off-campus indirect costs and fringe benefits.
• Salaries of research faculty, visiting faculty, post-doctoral fellows, etc., as well as exempt and non-exempt staff, are not available for release.
• Salary and fringe benefits for replacement faculty to handle teaching or other Institutional responsibilities must first be covered by unobligated University budgeted faculty academic year salary.
• Only University General Operating Funds may be released, not funds obtained from endowment, gift, or other similar restricted funds.
• Only salary funds may be released, not related fringe benefits.
• All of the funds to be released must be available at the time of release.

Use of released funds. Released funds should be used to support the research enterprise. Examples include but are not limited to:

• Non-recurring costs, such as purchase of equipment, travel to professional meetings, fees for visiting lecturers, etc.
• Bridging support for graduate students, postdoctoral fellows, etc., when there is a temporary hiatus in sponsored project funding.
• Supplemental research quarter salary to make up the difference between the NIH salary cap and a faculty member's actual salary for effort committed on NIH grants.
• Stipend supplement with no work requirement for an NRSA pre or postdoctoral fellow.
• Fringe benefits for postdoctoral fellows supported on sponsored projects that do not provide fringe benefits.
• Recurring costs, generally not allowable as direct costs on federally sponsored programs, such as clerical and administrative salaries.

Deviations from the above policy require the approval of the Vice President for Research.