Salary Savings Policy (Endowed Units)

For salaries of staff that are permanently budgeted on general purpose (GP) funds only, one time savings realized due to appointment of staff to grants or other outside sources of funding may be shared equally between the unit and central administration. Up to one half of the salary and benefit savings may be returned to the unit upon request for the purposes of covering the work performed by the person assuming the new grant funded duties or to provide future bridge funding for staff primarily supported from outside sources. All requests for salary savings must be in writing, describing the intended use of the funds and must be approved by the University Librarian and/or Director of Finance and Administration. Savings will be returned to the units on an annual basis after the close of the fiscal year (June 30).

Note: Often the term "salary savings" is also used to refer to funding that becomes available due to the temporary vacancy of a position. Normally such in-year savings revert to the library administration to finance special initiatives or projects that cannot be otherwise funded. Occasionally, special circumstances may require that these savings be shared with the unit to provide critical operational continuity. Requests for such assistance should be sent to the Director of Finance and Administration, but will only be considered in extenuating circumstances.
(Effective fiscal year 2003/04)