Subject Area: Sponsored Programs
Responsible Office: Comptroller's
Approval: V.P. for Administration and Chief Financial Officer
Originally Issued: October 1986
Revised: October 1992
Refer Questions To: Casey Murray, 773-702-1949

PURPOSE:   To establish responsibility regarding unresolved sponsored program overdrafts.

POLICY:

1. Account administrators are responsible for expeditiously resolving cost overdrafts and/or disallowances on sponsored program (Ledgers 5 and 6) accounts.
2. The Office of the Comptroller will monitor sponsored program accounts to ensure the successful and timely resolution of sponsored program overdrafts.
3. Failure to resolve overdrafts and/or disallowances in a timely manner will result in the transfer of the charges by the Comptroller's Office to the unrestricted budget (i.e., guarantee account) of the cognizant department.