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Deficit Policy

Deficits (overdrafts) on sponsored programs and budget disallowances are the responsibility of the project director. The project director is responsible for finding a suitable source of funding to cover the deficit whether it is from other funds available to the project director, or from the department, school/responsibility center or campus.

Departments are only permitted to spend up to the authorized award amount as stipulated in the grant or contract during the award period. Departments exceeding the authorized spending amount will be liable for all excess spending amounts. Failure to comply with the terms of the grant or contract may result in the grant or contract being temporarily terminated and the project closed.