University of Illinois at Urbana-Champaign Library Effective Date:
Issued by: Library Executive Committee
Policy on the University Library’s Distribution of Grant ICR Monies
The current University policy for the distribution of grant ICR (Indirect Cost Recovery) monies is that the Urbana campus retains 55% of the ICR funds, and 45% is distributed to the unit.
When the Library receives ICR monies from a grant it will assess what liens, if any, for graduate assistant tuition and what “first call” (e.g., campus charges including space or administration) charges are placed upon the grant. After these charges have been subtracted from the ICR funds, the Library will distribute the 100% net ICR funds from the grant as follows:
- 65% for administrative costs including administrative infrastructure and space. Costs include but are not limited to management of accounts, campus and other reporting and compliance, Facilities and Services charges, special infrastructure, or space requirements including set up costs. Funds are also used to cover all of the afore-mentioned expenses for those grants that do not generate ICR (e.g., private foundation or other grant sources that have policies that specify they do not support ICR). In addition, funds are used to cover general operating expenses.
- 25% for seed money for institutional research that might lead to future grants or for new or improved Library programs and services. Distribution of these funds is governed by “Guidelines for the Distribution of ICR Grant Seed Money”.
- 10% to the PI to use asisappropriate. These monies may be used for, but not limited to, personnel, travel and other Library-approved expenditures. All purchases remain the property of the University Library.
The BHRSC establishes an ICR account for each Library PI (or designated Library Senior co-PI in the case of a multi-unit grant with one or more Library co-PI’s) and deposits ICR funds generated from grants into the account. The BHRSC notifies the PI when an account is established, and ensures that the PI has access to the account. The PI may use these funds for travel, personnel, or other Library-approved expenditures. The PI is responsible for the management and appropriate expenditure of funds. Each year, an annual accounting of the use of the ICR funds from each grant will be provided to the University Librarian as well as to each Principal Investigator for a grant.
This policy will be reviewed on an annual basis.
Approved by the Executive Committee: February 10, 2003; Revised XX, 2016