An overdraft occurs when expenses booked to an account total more than the awarded budget or more than the final income that has been received. Your department is responsible for covering any overdraft incurred on a sponsored project account.
Overdrafts are managed in accordance with the university’s policy on Overdrafts, Bad Debts and Audit Disallowances on Sponsored Programs.
During the final reporting process, the Office of Research Administration will initiate a transfer to cover the overdraft from your departmental continuation account.
If you realize that overdrafts have or will occur within a project period and in advance of continued funding, please contact the Office of Research Administration. You are encouraged to use an advance account that is expected to receive additional funding.