The President of the University has delegated authority to waive or reduce indirect cost rates to the Vice President for Research. Requests to waive indirect costs must be approved by the Vice President for Research through the Office of Sponsored Projects. This structure will help recipients of awards and departmental bookkeepers to monitor expenditures more efficiently and to comply with agency guidelines. The answer is the amount of the transfer that should be made to a category subject to facilities and administration. Rebudgeting of Fringe Benefits When transferring funds to salaries, you must also transfer funds into fringe benefits .
Fringe benefits are the most difficult category to budget properly.
This percentage is difficult to estimate due to the fixed monthly premium sharing amount. It is very important for good project management to monitor the fringe benefit account. It often results in a large surplus which can be moved within other budget categories, while in other cases, it may be necessary to increase this category. If you know the classification of employees who will be working on the sponsored agreement, use the budgeted dollar amount that applies to that classification. Otherwise, use the combined fixed monthly insurance amount.