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Memorial University of Newfoundland

  Memorial University of Newfoundland

Research Pool - General

Approval Date: 2005-01-01

Effective Date: 2017-06-01

Review Date: 2021-05-01

Authority:

Vice-President (Administration and Finance) through the Department of Financial and Administrative Services

Purpose

To allow fees from research contracts and clinical trials to be transferred to a special account to be used to cover ongoing research expenses, while ensuring no personal benefit is derived. The University has set conditions governing the operations of the account to ensure that it meets the criteria for ongoing research and Canada Revenue Agency regulations.

Scope

Applicable to fees from completed research contracts or clinical trials which have been approved by Memorial University Office of Research Grant and Contract Services.

Definitions

Tangible Asset — Anything owned by the University that has a monetary value and includes Items such as buildings, property, furniture, equipment, computers, electronic devices, machinery, instruments.

Policy

It is the responsibility of the appropriate Dean, Associate Vice-President or Director of Research Grant and Contract Services to ensure the correct procedures and guidelines are followed.  

Transfers In (Revenues)
Accounts will be established upon receipt of appropriate correspondence.

Fees from completed research contracts or clinical trials are eligible for transfer, and must be approved by the Memorial University Office of Research Grant and Contract Services.

Donation receipts will not be issued.

Accounts will be non-interest bearing.

Transfers from research grants (i.e. NSERC, SSHRC, CIHR or others) are not permitted.

Expenditures
No personal benefit may be derived from the account.

All expenditures must be related to research. Allowable expenses will normally fall within the regulations covering NSERC/SSHRC/CIHR awards and Memorial University Policy. The payment of professional fees is not an allowable expense.

The amounts transferred will be locked-in and cannot be paid as personal salary at a future date.

Accounts will be subject to the signing authority guidelines for grant accounts, involving the existence of primary and secondary administrative signing authorities.

Expenditures must be substantiated by original vouchers.

Equipment, software and other Tangible Assets purchased are the property of Memorial University, in accordance with the Tangible Asset Administration policy.

In the event the faculty member leaves the employ of Memorial University, any unspent balance in the account will be transferred to the faculty's FRET fund.

Accounts will not be permitted to operate in a deficit position at any time.

Related Documents

Tangible Asset Administration policy

For inquiries related to this policy:

Financial and Administrative Services (709) 864-2471 or Office of Research Services (709) 864-8251

Sponsor: Provost and Vice-President (Academic)

Category: Finance

Previous Versions:

There is at least one previous version of this policy. Contact the Policy Office to view earlier version(s)

Approval Date 2005-02-01   Effective Date 2016-10-18
Approval Date 2005-02-01   Effective Date 2013-04-09
Approval Date 2005-02-01   Effective Date 2005-02-01

Policy Amendment History

Action: REPLACED
Date: 2019-05-30 11:58:01

This policy was replaced with a new version. Comment provided: Connected definitions using the definitions from the glossary.


Action: REPLACED
Date: 2021-11-15 15:17:05

This policy was replaced with a new version. Comment provided: Incidental Amendment - Dec 2020 (Transfer Account Name Change)