Q. What do I need to know before I start preparing my budget?
A. In preparing a budget, you need to classify expenses the way the college does. For example, consultant travel is a contractual service (non-employee travel), it is not travel. Minor equipment, those items costing less than $5,000, are supplies, not equipment. In general, budget categories on grant applications should be the same categories for departmental general fund budgets: personnel, contractual services, supplies, fixed charges, and equipment. Budgeting should not deviate from these categories unless absolutely required by the sponsor.
Q. What is the overhead or indirect cost rate?
A. The college’s overhead rate is 40% of total salaries and fringe benefits. You should always request overhead unless the grant application guidelines limit or prohibit overhead. (half of the overhead generated by the grant will go back to your department as an increase to its operating budget).
Q. What is the fringe benefit rate?
A. The college has a variety of fringe benefits rates. The most commonly used are: Faculty: 31.30%, Staff: Exempt - 32.70% and Non Exempt- 37.50%. See Fringe Benefit Chart for full listing of rates.
Q. What if cost share is required on my grant?
A. Generally cost sharing can be done with effort you may provide during the academic year i.e. effort that you may not be paid for. Any other cost sharing will require you to document the funding source. If cost sharing is required, review “Cost Sharing Requirements.”
Q. How are faculty paid on grants?
A. Faculty may only receive increased compensation for working on grants during the summer. Total summer pay, including grant work and summer school is capped at 30% of the base salary. If you are going to be paid from a grant, you should review: “Faculty Salary Rates for Federal Grants.”
Q. How do I set up an eRA Commons or NSF FastLane account?
A. An Authorized Organizational Representative will facilitate your account set up.
- Full Name
- Citadel email address
- Lesesne Gateway username
- Date of Birth
- Role (Principal Investigator, Post Doc, etc.)