Preparing A Budget
Facilities and Administration - The Facilities and Administrative Cost Rate, as negotiated with Health and Human Services , is a predetermined rate of 44 percent in effect until June 30, 2011, OR until amended, using the same rates and conditions as cited. Assistance with determining appropriate amounts, including costs for equipment, supplies, telephone service and space can be provided by Shannyn Jacobsen (477-2781), Business Office.
Fringe Benefits - All proposals seeking personnel costs must include fringe benefits which essentially pays for applicable health insurance, FICA, sick leave and other benefits that are available to faculty, staff and student employees. The amount to include in the budget for fringe benefits can be obtained from Deanne Drummond (477-2222), Payroll Director, in the Payroll Office.
Indirect Costs - Grants from the federal or state governments often provide indirect costs. Indirect costs are provided to cover University overhead. For federal grants, indirect costs are given to the University according to a negotiated percentage of the grant award. If indirect costs are supplied by the grant, consult your dean or director to negotiate if part can be used. The indirect cost rate effective from July 1, 2011 until June 30, 2013 is 47%.
Match/In-Kind Costs - Many grantors require an organization to provide some funds of their own to support a program. This match is seen as a test of the level of the commitment to a project by the applicant organization and some indication of the potential for the continuation of the program after grant funding. An agency may request that match be in CASH and/or IN-KIND. In-kind match are non-cash items such as heat, light and space to be provided by the applicant or the cost of administrative support/secretarial support if department is willing. For example: 5 percent of a secretary's time could be an in-kind match.
Student Employees - Lonnie Carlson (477-2223) in the Payroll Office can assist in determining the amount needed to cover student employment payroll costs and provided the necessary hiring/payroll forms.Travel - Information pertaining to travel procedures and policies is available from Carol Lindquist (477-2782) in the Business Office and from MnSCU website.