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Financial Policies Chapter 7: Deficit Spending

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CHAPTER 7: DEFICIT SPENDING

Policy 7-1 DEFICIT SPENDING

Regardless of the source of funding, Organizational Unit Managers shall manage all activities and expenditures under their control, and avoid generating a Deficit in the Index. Organizational Unit Managers must eliminate Deficits in a timely manner. All Deficits related to non-sponsored projects must be eliminated by the end of the fiscal year.

A Deficit that exists in Sponsored Projects that is not resolved within 90 days may be automatically transferred to a Principal Investigator’s professional or research development account, departmental or center unrestricted source of funds, including gift funds or a department’s general fund budget.