Various/Foundation FAQs

General Research support funding is not intended to be a substitute for regular restricted projects. Therefore, large programmatic projects should be proposed and established as regular restricted accounts that contain negotiated terms.

No, various accounts are intended for the deposit of private funding only. Federal and state funding is considered restricted and should be treated as such.

No, royalty payments are not assessed overhead.

Yes, salaries can be supported from these types of accounts but remains subject to department and dean approval.

All various fund balances are not subject to being spent by the end of a fiscal year. The balances are there until expended.

Any residual transfer request where the residual balance exceeds 25% must have an explanation of why the residual is significant. Events may have changed during the course of the firm fixed-priced contract that resulted in the larger than expected balance.

Any request that exceeds the 25% maximum will be reviewed by the director of Sponsored Programs to ensure that the original budget was appropriate and that the transfer resulted from unforeseen circumstances such as substitution of cheaper labor.

No, the various funds are segregated for accountability and transfers between funds are not allowed.

Yes, split purchases are acceptable.

All gifts are to be deposited in the Virginia Tech Foundation. Upon deposit, funds may be transferred to an OSP Foundation account to pay for such items as salaries, wages, and graduate stipends.

Title to equipment purchased from various funds will remain with the university.

The Office of Sponsored Programs recognizes that sponsors may request a report detailing the results of your work. Courtesy copies of reports are not considered contractual deliverables. However, if any payment is subject to the receipt and acceptance of a specified deliverable, then the Office of Sponsored Programs will treat the project as restricted and will work to establish a restricted fund.

No, all various fund types operate on a cash basis only.

The use of the field trials/field studies accounts are for agency 229 colleges only (Vet. Med., Agriculture and Life Sciences, and Natural Resources).

A gift is provided as a unrestricted donation (no strings attached) for your use and should be deposited in the Virginia Tech Foundation. With a gift, the donor intends to count the funding as a tax deduction. Identifying donor intent may require questioning the donor to access their intentions. Any deposits where either the check or the accompanying letter identifies the deposit as a gift must be deposited into the Virginia Tech Foundation.

A grant may require a specific statement of work but not a required deliverable. All grants should be routed as a sponsored project. Any grant requiring an agreement, billing, or deliverables should be routed as a restricted project.