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Budget Creation Kristin Wetherbee CAH Research Office March 2, 2011 March 3, 2011

Budget Creation Kristin Wetherbee CAH Research Office March 2, 2011 March 3, 2011. AGENDA. Background Budget Categories F&A Rate Cost Share Budget Narrative Red Flags Budget Sample. What is a Budget?. An estimated project financial plan listing: - anticipated expenses

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Budget Creation Kristin Wetherbee CAH Research Office March 2, 2011 March 3, 2011

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  1. Budget Creation Kristin Wetherbee CAH Research Office March 2, 2011 March 3, 2011

  2. AGENDA Background Budget Categories F&A Rate Cost Share Budget Narrative Red Flags Budget Sample

  3. What is a Budget? An estimated project financial plan listing: - anticipated expenses - earned income A budget may be: - a simple one-page statement of projected expenses - a detailed spreadsheet and a thorough narrative

  4. RULES • ALLOWABLE • Federal – OMB A-21 • Agency – RFP, guidelines • UCF Policy ALLOCABLE • REASONABLE CONSISTENT

  5. Budget Categories • Personnel • Equipment • Travel • Participant Support Costs • Materials & Supplies • Publication • Consultants • Subcontracts • Tuition • F&A Rate • Cost Share

  6. Personnel • Salary • Academic year course buyout .22 FTE • Summer salary • 3% escalation annually • Include tenure raises, TIPs, RIAs, SoTLs, etc. • OPS • Non-students • Hourly undergrads and grads • Graduate Research Assistants (GRAs) • Dual compensation • Fringe Benefits – all payroll expense has fringe charges

  7. Equipment • UCF taggable property • Non-consumable item $1,000+ • Useful life of more than one year • Software, furniture, computers • Library books $250+ • Construction costs • Other capital outlay (OCO) • Federal awards – equipment $5,000+ • Document need • Purchase early

  8. Travel • List each trip separately with dates, locations • Fly America Act • Estimate expense: hotel, airfare, registration, meals, parking, etc. Participant Support • Participant/trainee (not employees) expense to attend conference, meetings, training, etc. • Travel, registration, stipend • Agencies often have a maximum allowable per person

  9. Materials & Supplies • For technical work, not admin • Justify in budget narrative • CAS exemption for “major” projects Publication/Dissemination • Disseminate research findings • Publication restrictions?

  10. Consultants • IRS 20 question rule • Sponsor limits on daily maximum allowable • Intellectual property issues • Quote needed and formal contract through ORC and Legal Subcontractors • Project partner • Performs programmatic or technical work off-site • Statement of work, budget, and sponsored project office approval needed • Intellectual property issues • Formal contract to pass through agency requirements

  11. Tuition • UCF policy on hiring GRAs and tuition waivers: http://www.research.ucf.edu/SponsoredPrograms/Proposal/forms/GraduateTuitionRegulations.pdf Contracted GRAs must have tuition paid .50 FTE = Full tuition .25 FTE = Half tuition

  12. What is F&A? • Common operational costs that cannot be readily and specifically identified with a particular sponsored project, instructional activity, or other institutional activity. • Also called: • Facilities and Administrative rate (F&A) • Indirect Costs (IDC) • Overhead

  13. Applying F&A • Use UCF’s negotiated rate unless limited by the agency • Apply negotiated rate on modified total direct cost • MTDC - Total direct costs minus: • Equipment • Student tuition • Participant support costs • Subcontract costs in excess of the first $25,000 • Capital expenditures • Patient care costs • Rental/maintenance of off-site activities

  14. Why Care About F&A? • ORC - admin support, in-house awards, and matching funds • 45% of earned overhead (pending special conditions) is returned to CAH • CAH uses of overhead: • Portion to department • Portion to PI • Fund in-house and internal awards • Match commitments • Travel and training support • OPS support • FY2010 OH returned to UCF colleges/centers: $8 million

  15. Cost Share Is it required? - Rarely for NSF; ambiguous for NEH; often for state - Must track in a separate account - Must be an allowable direct cost to use as match Types of cost share - Cash – donation or UCF funding - In-kind – donation for time, services, materials - Forgone overhead Need proposal documentation of commitment Need letter at close out detailing cost share provided

  16. Budget Narrative • Make case for budget – items are reasonable, appropriate, and adequate • Provide detail about items to be purchased • Tell how costs were calculated • Discuss how university policy impacts charges • Consistent with budget and grant narrative

  17. Red Flags • Entertainment, alcohol, meals without travel • Partners with the same last name • Postage, phones, copying expense • Administrative salaries • Rental of UCF property • GRA without tuition • Dual compensation

  18. Contact Information CAH Research Office cahresearch@ucf.edu Dr. Nancy Stanlick CAH Research Coordinator nancy.stanlick@ucf.edu Kristin Wetherbee kristin@ucf.edu 407-823-0908 Patricia Tierney patricia.tierney@ucf.edu 407-823-3205

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