Overhead Return Policy approved 1/26/93 Guidelines and goals: The purpose of the overhead return funds is to enhance the research efforts of the department. The monies are to be used only for research-related needs. Procedures: 25% of the money is returned to the PI's who generated it. $10,000 or 15% of the remaining 75% of the money, whichever is greater, is reserved for the discretionary use of the Head. Proposals may be submitted to the Overhead Return Committee (see Section C. below) by any faculty member or group of faculty members for any portion of the remaining money. Proposals should not exceed two pages in length. The committee will review proposals and make a final decision regarding funding of proposals. The committee is not bound to approve any particular proposal, regardless of availability of funds. Any approved proposal which requests more than 25% of the money available for proposals must be approved by a simple majority of the full faculty. If the faculty does not approve the recommendation of the committee on that item, the committee will make an alternative decision on the use of those funds. Any excess money remaining after the committee's actions will be returned to the PI's. All monies awarded under B.1.-B.4. must be used or firmly committed by March 30 of the current fiscal year unless an extension is approved by the Head. The Overhead Return Committee:The department will elect a committee of five members to review proposals. At least three members of this committee should be current or recent (past three years) PI's. The members of the committee will be elected annually; those having served the previous year are ineligible for election. The Head will, as early in the fiscal year as possible, notify the committee of the funds available for proposals. The committee will promptly meet, select a chairman, and solicit proposals from the faculty. The committee, keeping in mind the March 30 deadline, should act as expeditiously as possible in its recommendations.
