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Rules & Regulations

Office of Management and Budget (OMB) Circulars

Fly America Act

Fixed Price Accounts

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University Policies Regs, and Rules (PRRs)

Grad Student & Post Doctoral Fellows Medical Insurance Policy

NSF (National Science Foundation) Policies

Closing a Fixed Price Account

An excerpt from Fixed Price Sponsored Projects PDF

Fixed Price accounts should be “closed” within 90 days from the project end date. Note that the scope of work must be completed by the project end date and all related expenses charged to the award. After full payment is received from the sponsor, any excess funds will be distributed in the following manner:

  1. Full F&A will then be assessed on the remaining balance left on the Fixed Price Contract.
  2. Any remaining funds can be transferred to and used by the Principal Investigator as long as the transaction meets University and State purchasing guidelines. [Exception: if funds are being used as cost sharing on a Cost Accounting Standards (CAS) covered agreement, they must meet CAS guidelines.]

If there is a cost overrun in the fixed price account, the amount must be covered by the department and/or Principal Investigator including F&A.

Honoraria

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