This policy covers research projects which have ended, the final payment has been received and all scientific obligations have been met.
Projects should be reconciled and a balance determined by the Research Awards Team within 2 months of receipt of the final payment.
If an overspend has occurred*, the Research Awards Team will contact the project investigator(s) and department and ask them to provide a departmental code to charge it to (e.g. to RIIF, individual OSF account). If the Department fails to respond the Research Awards Team will make one further request. If the PI/department fails to provide the account code, the overspend will be transferred to the investigator’s OSF account or the department’s RIIF account as deemed appropriate by the head of research awards.
If there is a dispute over the balance and no resolution can be found, the Research Awards Team will refer the matter to the Finance Director who may agree a write-off of the overspent balance to central school funds.
The following process is in place to write-off debit balances:
A request for the write-off will be prepared by the research award manager, and passed to the head of research awards for initial approval. If approved, the write-off will be submitted to the Finance Director for a decision, which is final.
*this policy excludes balances on Marie Skłodowska-Curie actions, individual fellowships and networks, or due to exchange rate gains or losses.
If funding is received on a fixed price basis, and spend is less than income, the Research Awards Team will determine whether, under the terms of the funding agreement or after consulting with the funder, the credit balance can be retained by LSE. If LSE can retain the funds, the credit balance may be transferred to a departmental outside funds account or to the investigator’s OSF account*.
Where overheads charged to the project are less than the GBP value provided for in the funding agreement, the Research Awards Team will debit the account to the full GBP value of overhead before any remaining balance is transferred to the department or investigator(s).
Where a credit balance is transferred to an investigator’s outside funds account, the individual will be asked to sign a waiver. No balance will be transferred until the waiver has been signed.
Return of unspent funds
If the funder requests return of unspent funds, the Research Awards Team will return the funds directly to the funder.