1.0 Reason for Policy

1.1 To establish the roles and responsibilities for those involved in the financial administration and control over Research and Special Funds.

2.0 Policy Statement

2.1 Research and Special Funds shall be subject to financial administration and control procedures appropriate for publicly administered funds. The principles of public transparency and accountability shall be paramount in determining the appropriateness of procedures.

2.2 In administering and controlling research and special funds, the University will, at a minimum, comply with the policies of the external sponsor and any additional contractual requirements related to the funds.

2.3 In the absence of specific policies of the external sponsor or contractual terms in the contract, the financial administration and control policies and procedures of the University shall be followed.

2.4 This Policy applies to all Research and Special Funds established by the University for the purpose of administering amounts committed and/or advanced from outside agencies/organizations or from internal University sources. This policy applies to grants, awards, contracts, and all other amounts administered through Research and Special Funds.

3.0 Accountability

3.1 The University Secretary is responsible for advising the President that a formal review of the Policy is required.

3.2 The Comptroller is responsible for communication, administration and interpretation of this policy.

4.0 Secondary Documents

4.1 The Vice-President (Administration) or the President may approve Procedures which are secondary to and comply with this Policy.

5.0 Review

5.1 Formal Policy reviews will be conducted every ten (10) years. The next scheduled review date for this Policy is October 10, 2018.

5.2 In the interim, this Policy may be revised or rescinded if Board of Governors deems necessary.

5.3 If this Policy is revised or rescinded, all Secondary Documents will be reviewed as soon as reasonably possible in order to ensure that they:

(a) comply with the revised Policy; or
(b) are in turn rescinded.

6.0 Effect on Previous Statements

6.1 This Policy supersedes the following:

(1) all previous Board/Senate Policies, Procedures, and resolutions on the subject matter contained herein;
(2) all previous Administration Policies, Procedures, and directives on the subject matter contained herein; and
(3) Policy "Financial administration and control of research and special fund accounts" dated April 1, 1998.

7.0 Cross References

Financial Administration and Control of Research and Special Funds: Procedure