Trust Funds

Distribution of Funds - Principal Investigator Resignation

This paper defines a policy related to distribution of Trust Funds monies upon the resignation of the Principal Investigator. Trust Funds include donations from private bequests and trust agreements, matching gifts, as well as the temporary investment of extramural support funds.

Policy

In the event of the resignation of the Principal Investigator associated with specific Trust Funds accounts, the following rules will apply:

  1. Private bequests/trust agreements
  2. These instruments name the Board of Regents of the University of Wisconsin System as a beneficiary. Therefore, these funds remain the property of the institution at all times and will not be dispersed to any other individual or institution without the written consent of the donor.

  3. Matching gifts
  4. As matching gifts are gifts specifically to the Board of Regents of the University of Wisconsin System, these funds remain the property of the institution at all times and will not be dispersed to any other individual or institution without the written consent of the donor.

  5. Invested extramural support funds

These funds represent extramural support agreements between the Board of Regents of the University of Wisconsin System and interested parties. Although the legal agreements may not specifically include the Principal Investigator, these arrangements may involve specific research or individuals. Therefore, the System Administration General Counsel's office will review each case to determine the proper distribution of these funds. The interested party may be contacted to determine their desire for the distribution of the funds. In all cases, these funds will not be distributed directly to the individual named as Principal Investigator. However, a transfer of funds to another institution may be approved if it is deemed consistent with the intent of the contract.