What are Locally Allocated Funds?
Locally Allocated Funds are dollars that are available to central administration to allocate in support of units without alternate sources of income or to units that serve units across the campus. The following are the sources that make up the Locally Allocated Funds along with some of their uses: Indirect Cost Recovery derives its revenue by charging certain sponsored activities at a negotiated rate of overhead. The locally allocated portion is budgeted to support the central administrative activities that contribute to the calculation of the recovery. Locally allocated indirect recovery does not include departmental and college indirect cost accounts. The Investment Income Fund receives revenue from the investment of University local cash balances. The University is able to assist in funding many activities through these funds including but not limited to scholarships/fellowships, some central administrative units, land acquisition and utilities. Administrative Service Charge revenue
