Budget Development Spear Workshop
This workshop focuses on budget development, including identifying direct and indirect costs, calculating salaries and fringe benefits, meeting requirements for graduate students and collaborators, and determining indirect cost rates. It covers types of costs, allowability of costs, salaries and fringe benefits guidelines, and other direct costs like equipment and travel. Participants will gain essential knowledge for effective budget planning and management in research projects.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
BUDGET DEVELOPMENT SPEAR WORKSHOP
Objectives Identify types of costs both direct and indirect Calculate salaries and fringe benefits Identify the requirements for graduate students Identify the requirements for a collaborator Identify and calculate the indirect cost rates
Types of Costs Direct Costs (2 CFR 200.413) Identified specifically with a particular project Indirect Costs (2 CFR 200.414) Incurred for common objectives and can t be identified specifically with a particular project aka F&A (Facilities and Administration) or overhead Costs incurred for the same purpose in like circumstances must be treated consistently as either direct or indirect (F&A) costs. Costs must be allowable according to the Cost Principles (2 CFR 200 Subpart E 200.4XX)
2 CFR 200.403 - Allowability of costs Costs must meet the following Be necessary and reasonable for the performance of the award Conform to any limitations or exclusions Be consistent with policies and procedures that apply uniformly to both federally-financed and other activities of the non-Federal entity Be accorded consistent treatment Be determined in accordance with generally accepted accounting principles Not be included as a cost or used to meet cost sharing or matching Be adequately documented
Salaries and Fringe Benefits Salary & Fringe Generally based on FTE, percent effort, person-months, etc. Do not use hourly rates, FSU does not maintain timesheets for salaried employees project activities 3% yearly cost of living increase allowed 9 mo. v. 12 mo. appointment and health insurance for summer appointment Refer to Facts Sheet for current fringe rates
Graduate Student Requirements Graduate Student Requirements Salary (up to .5 FTE 20 hours/week) Fringe Benefits Workers Comp 1.3 % Health Insurance Subsidy Tuition FSU requirement for 9 hrs/semester
Other Direct Costs Equipment >$5,000 with a useful life of 1 year Travel In accordance with FSU travel policies and FL Statute 112.061 Requires detailed justification Participant Support Costs ( 200.75) Stipends Travel, etc.
Other Direct Costs OTHER Direct Costs Tuition Materials and Supplies includes computers, laptops Publications Consultants Subawards/consortia Other (e.g. long distance phone, dedicated phone line, shipping, printing)
Collaborators Types of Collaborators Subrecipient Contractor Consultant Subrecipient v. contractor determination ( 200.330) Subrecipient: >$25,000 excluded from F&A base Contractor: full amount subject to F&A Subrecipients must provide: Scope of work, budget and justification F&A Rate Agreement Letter of Commitment from Sponsored Project Office
Indirect Costs Indirect Cost Rates: Based on sponsor, project location, and project purpose Two IDC bases: Modified Total Direct Costs (MTDC) Federal and federal flow-through Total Direct Costs (TDC) State of Florida
Indirect Cost Rates Variables: Sponsor: Federal, State, Local Government, Water Management District, etc. Purpose: Research, Other Sponsored Activity, Instruction Project Location: On-Campus, Off-Campus, NHMFL Sponsor IDC policy See Facts Sheet for current F&A agreement and rates
Exclusions from IDC Base MTDC rate excludes: Equipment Tuition Rent (Off-site facilities) Participant Support Costs Amount of subcontracts >$25,000 Scholarships and Fellowships TDC rate excludes: Tuition; per FSU policy
Indirect Cost Calculation MTDC (NSF) TDC (FDOT) On-campus research 52% On-campus research 10% Salary (plus FBs) 50,000 50,000 Equipment* 10,000 10,000 Supplies 3,000 3,000 Publications 2,000 2,000 Tuition* 11,004 11,004 TOTAL DIRECT COSTS 76,004 76,004 Indirect Cost BASE $55,000 (MTDC) $65,000 (TDC) Indirect costs (base x rate%) $28,600 (base x .52) $ 6,500 (base x .10) TOTAL REQUESTED $104,604 $82,504 *Items in black are excluded from the indirect cost base
