Click on a question below to view the answer. Limit the results by entering a search term.

Fixed Price Surplus

A Fixed Price budget is one that represents an agreement made with a sponsor to perform service at a firm price, without the ability to adjust that price for actual increased costs in performing said service. The firm price is usually based on a per test, or per deliverable, service. The University retains the unexpended balance of fully paid Fixed Price budgets.

The unexpended balance is transferred to a Fixed Price Surplus budget that has been established by a department in order to receive those unexpended balances from their respective Fixed Price budgets. The Fixed Price Surplus budget may be used to offset deficits in any grant or contract. For further information see Fixed Price Surplus budgets 

 A department is allowed a maximum of three Fixed Price Surplus budgets. One surplus budget is to correspond with on-campus fixed price activity, one budget is to correspond with off-campus activity, and one budget is to correspond with clinical trial surplus or other special rate. For further information, go to Fixed Price Surplus.