Research Trust Funds - Budget Overview - UMass Amherst Provost's Office

Provost's Office > Administrative Info: Financial > Budget Overview > Fund Type: Research Trust Funds (RTF)

The following links contain more detailed information about the most important budget allocations and other FUND types available in the Academic Affairs Executive Area, and their respective operational procedures.

Operating Budget

Revenue-based Funds

Grants and Contracts

Research Trust Funds (RTF)

Gifts

Research Trust Funds (RTF)

Source and Use

(See above Grants and Contracts, indirect cost budget) Money earned by levying an overhead percentage rate on grant or contract expenditures is called, on the Amherst campus, Research Trust Funds (RTF). The RTF is earned monthly as expenditures are made in the grant. The money is automatically deposited in separate RTF account numbers, each with an assigned responsible person.

Policy

Research Trust Funds are tracked as a separate FUND type in order to comply with Massachusetts legislation requiring that they be spent in the support of research. (See policy in campus Accounting Manual)

Distribution of RTF Earned

The current Amherst campus policy for distribution of these grant overhead earnings specifies that 70% of all earnings will be returned to the central campus administration; these become part of the resources for the campus annual Operating Budget (see above, Operating Budget). The remaining 30% earned on each grant or contract is automatically distributed in the following fashion: 10% is returned to the PI for the grant or contract; 10% is returned to the department of the PI; 10% is returned to the dean (or Director or Vice Chancellor) where the PI and department is located. (Exceptions to this standard distribution must be mutually agreed to by all parties involved.)

		Research Trust Funds (RTF)
		Provost's Office > Administrative Info: Financial > Budget Overview > Fund Type: Research Trust Funds (RTF) Budget Overview The following links contain more detailed information about the most important budget allocations and other FUND types available in the Academic Affairs Executive Area, and their respective operational procedures. Operating Budget Revenue-based Funds Grants and Contracts Research Trust Funds (RTF) Gifts Research Trust Funds (RTF) Source and Use (See above Grants and Contracts, indirect cost budget) Money earned by levying an overhead percentage rate on grant or contract expenditures is called, on the Amherst campus, Research Trust Funds (RTF). The RTF is earned monthly as expenditures are made in the grant. The money is automatically deposited in separate RTF account numbers, each with an assigned responsible person. Policy Research Trust Funds are tracked as a separate FUND type in order to comply with Massachusetts legislation requiring that they be spent in the support of research. (See policy in campus Accounting Manual) Distribution of RTF Earned The current Amherst campus policy for distribution of these grant overhead earnings specifies that 70% of all earnings will be returned to the central campus administration; these become part of the resources for the campus annual Operating Budget (see above, Operating Budget). The remaining 30% earned on each grant or contract is automatically distributed in the following fashion: 10% is returned to the PI for the grant or contract; 10% is returned to the department of the PI; 10% is returned to the dean (or Director or Vice Chancellor) where the PI and department is located. (Exceptions to this standard distribution must be mutually agreed to by all parties involved.)
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