Clinical Trial Budget Initiation
Thursday, December 5, 2019
Purpose: A means to establish spending authority prior to receipt of cash after award has been fully executed.
Method: Send an email to firstname.lastname@example.org requesting a one-time or float. Subject line should include the project number and budget option.
Project Total Determination:
Grants and Contracts Accounting will establish a budget based on the email request.
Budgets need to be established in the same categories as the University's financial system to account for costs. The budget categories will initially be established with $-0- budget based on the budget categories provided by the Office of Research Administration and/or department. If the clinical trial payment plan is based on a per-patient or per procedure payment, the budget will be established for each deposit in the following manner:
Salary/Fringe 1/3 of direct costs
Supplies 1/3 of direct costs
Other 1/3 of direct costs plus dept and/or section percent of F&A when applicable
F&A 25% mandatory for VPR/Grants Administration
As deposits are received, the budget categories will be populated and allocated.
If clinical trial spending authority is needed, review clinical trial options listed and designate choice.
Clinical Trial Budget Options:
Float - Initially the project total will be established based on this request. As deposits are made, the project total will increase by deposit amount. In other words, the designated amount "floats" as deposits are made up to total amount of award. Ex: Designated amount is $10,000. Deposit is received for $5,000. Project total is adjusted automatically to $15,000 by Grants and Contracts Accounting. Categories will be budgeted for $5,000.
One Time - Allows spending up to designated amount on this form. Once spending reaches this level and there have not been deposits made to exceed designated amount, then spending ceases until designated amount is increased or additional deposits are received. Ex: Designated amount on form is for $10,000. Project total will be set as $10,000. If $5,000 is deposited, categories will be budgeted for $5,000 and project header will remain unchanged. If $15,000 is deposited, categories will be budgeted for $15,000 and project total will be increased to $15,000.
Advances and floats are limited to $10,000 for industry sponsored clinical trials. Requests for more than $10,000 must be submitted with a thorough justification and will be reviewed by the Assistant Controller and approved on a case-by-case basis. Departments are reminded that budget is not cash and it is their responsibility to ensure that the clinical trials are being invoiced and payments received.
Proposed Budget Lines: Indicate budget lines needed. Default for clinical trial categories are listed above.
Alternate chartfield: An appropriate chartfield spread must be identified as an alternate source of funds in case funds are not received. SPNSR, STATE and EDWCH funds cannot be used as an alternate source of funds.