Rationale
This policy outlines the transfer of discretionary accounts following the resignation or retirement of the College of Agricultural and Life Sciences (CALS) faculty who have spending authority for fee for service and gift accounts.
Scope
This policy applies to College of Agricultural and Life Sciences (CALS) faculty who have spending authority on discretionary accounts.
Policy
- Spending for sponsored projects or discretionary funds must be done in compliance with all applicable funding rules and university policies.
- Upon resignation or retirement, or other departure from their current position, a CALS faculty member with spending authority over a discretionary account (UW Foundation and Alumni Association, UW-Madison gift funds, royalty distributions, UW Trust Funds, and fee-for-service funds) must first pay off any negative balances associated with that faculty member and then transfer the remaining balance of that account to:
A. an active faculty member who is currently working on the project/grant; or
B. the department where the departing faculty resides; or
C. CALS central administration.
The transfer plan must be determined in conjunction with, and approved by, the department chair. - If a retired faculty member is approved to return to UW-Madison as a rehired annuitant, they can be compensated with the discretionary funds for up to one year after the date they return.
- If a faculty member is noncompliant, or is not in good standing at the time of departure from the University, the discretionary funds will default to CALS central administration.