7.10 Virement of Funds

  • The virement of funds between fund headings is permitted only within and between Directly Incurred costs and Exceptions excluding equipment.

    Transfers will be at the rate applicable for the heading, that is, at the appropriate percentage of FEC for the heading.

    Equipment funding is ring fenced and transfers into or out of equipment headings is not permitted.
     
  • For items of equipment the Principal Investigator may be required to seek STFC's approval in advance to vire any savings on equipment purchases to other equipment items. Approval will be subject to an explanation of the saving and purpose of additional expenditure on other equipment.
     
  • Funds may only be transferred into studentship stipend or fees to supplement an existing studentship post on the grant. They may not be transferred to create new posts without prior approval from the Council. Transfers will be at the rate applicable for the heading, as set out in the award letter.
     
  • While approval does not need to be sought from STFC for transfer of funds, STFC reserves the right to query any expenditure outlined in the Final Expenditure Statement that has not been incurred in line with the Grant Terms and Conditions.
     
  • Under no circumstances may Directly Incurred and Exceptions funds be used to meet the costs of any other grant or activity.
     

Science and Technology Facilities Council Switchboard: 01793 442000