MINES’ POLICY LIBRARY
Policies and Procedures by Subject
Financial Policies Chapter 7: Deficit Spending
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.