Why does Research/Cost Accounting return funds on a sponsored project?
Most sponsored projects at the University are cost reimbursable. The University can not legally retain any funds that are paid by a sponsor above and beyond the amount of the actual costs of a project and thus are returned within a timely manner. The Research/Cost Accounting Guideline on Residual Funds at http://www.bc.pitt.edu/policies/index.html gives further details on this practice.
