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UNSW Fund Code

Fund Name & Code Source Administration Expenditure Uses
External Funding
Research Grants or Contract Funds (REXXX) Competitive and non- competitive research funding The granting body or the sponsor will indicate the manner in which the funds are to be utilised Rules and guidance as per the funding or other special conditions and requirements specified in the contract
Internal Funding
Research Surplus Funds Surplus from completed & fully costed RE Projects.
 
No obligation to return funds to the Sponsor.
 
Allocation for a specific purpose is at the discretion of the Head of School and Centre.
Administered by the School or Centre and approved by the Dean.
 
Income can only come in the form of internal income transfers using account 1507 for expense (no external revenue can be receipted in this fund).
 
Fund cannot run into a deficit.
Available for future research activities.
 
Can spend out of established RF111 projects or establish a new RF111 Project for a specific purpose.
Individual Researcher Surplus (RF112) Only applicable to contract research where a surplus is forecast on commencement of the project.
 
The surplus is greater than $1,000, as in the UNSW pricing policy.
 
Above the attributable  UNSW indirect costs.
 
Surplus transferred to this code is at discretion of School/Centre.
Administered CI who generated the funds.
 
Funds must be utilised within two years from the time they are transferred into RF112.
 
Income can only come in the form of internal income transfers using account 1507 (no external revenue can be receipted in this fund).
 
Fund cannot run into a deficit.
Available for future research activities.
Research Miscellaneous Funds (RF222) External funding received for research but not administered by GMO, bound by a contract. All legacy balances being reviewed on a case by case basis by RFO and the transition path being proposed.
 
The transition of legacy balances is to be completed by a date still to be determined. Exceptions to phase out have approval from Central Finance (DSFP)).
 
Research Suspense Funds (RF333) Temporary depository used to receipt or incur: Before an RE project is created; or Research expenditure that is shared regularly over many RE projects.
 
Existing project codes to be utilised.
Administered by School or Centre.
 
Balance should be cleared to zero as soon as research funding is released.
 
Reconciliation process should be prepared and signed off by:
1) Schools/Centres
2) Balances reviewed and signed off by Faculty Finance Manager on a timely basis
3) Any uncleared funds at financial year end should be cleared to bring the balance to zero.
 
Exception to the year end zero balance is where funds are allocated for a refresh of shared infrastructure - materiality limit to be determined. Some balances of these might be reltating to consumables or medical student loading for example.
Before a RE Project is created
Payment on Behalf (POB) (RF334) External funding received for research but not administered by GMO, bound by a Memorandum of Understanding. POB are administered by the Faculty as stipulated in the MOU between UNSW and external parties.
 
Faculty raises invoices to recover the expenses from external partners.
The Faculty monitors revenue to ensure it matches the expenses recovered from the external parties as stipulated in the MOU.
Major Research Equipment (RF444) Strategic Fund allocation for the purchase of major equipment including the University's Major Research Equipment Infrastructure Initiative (MREII) managed by DVC-R.
 
Based on ranked competitive process.

Administered by DVC-R and RFO.

Project code to be opened by GMO in InfoEd and RFO opens project in Ns Financials.
 
DVC-R monitors activity in these projects.
 
DVC-R can claw back, if funds are not spent on a timely basis.

Restricted to spend on research equipment, infrastructure and associated commissioning costs.
Research Matching Funds (RF555) Allocated from Strategic Funds contributions based on contractual obligations between UNSW and funding institutions or external funding bodies.
 
Administered by DVC-R and RFO.
 
Project code to be opened by GMO in InfoEd and RFO opens project in Ns Financials.
DVC-R monitors revenue to ensure it matches the BRC and that it is not used to receive other monies.
EB Salary Gaps (RF666) Discretionary Gap created due to difference between "UNSW Enterprise Bargaining (EB) Salary Gaps funded through Strategic Funds.
 
An EB gap is the difference between the research fellowship scale funding and the UNSW total employment costs for a research salary at an equivalent level.
 
Funding is currently restricted to approved fellowships.
EB Gaps are administered by DVC-R and RFO and cleared to zero at financial year end. Funding to be used to cover difference in UNSW Equivalent Employment Cost and Research fellowship Scale Funding.
Discretionary Salary Gaps (RF777) Approved total employment cost as per faculty employment policy.
 
Funded by a combination of strategic funds and faculties  operating funds.
 
Funding sources to be included in budgets and forecasts.
Administered by School or Centre and cleared to zero at financial year end. Discretionary Gap created due to difference between "UNSW Equivalent Total Employment Cost" and Total Employment Cost (i.e. Above the EB Gap).
 
Includes cost differential of fellowships that do not qualify for EB Gap funding.