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Fringe Benefit Rates & Sponsored P rojects Update to GIM 3

Fringe Benefit Rates & Sponsored P rojects Update to GIM 3. Presented by: Lynette Arias, OSP April 11 th , 2013 MRAM. Current GIM 3. Current policy: Only approved rates can be used in proposals No escalation or use of preliminary rates allowed Result:

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Fringe Benefit Rates & Sponsored P rojects Update to GIM 3

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  1. Fringe Benefit Rates & Sponsored Projects Update to GIM 3 Presented by: Lynette Arias, OSP April 11th, 2013 MRAM

  2. Current GIM 3 Current policy: • Only approved rates can be used in proposals • No escalation or use of preliminary rates allowed Result: • Requested amount may not cover the anticipated cost of benefits in the upcoming fiscal year.

  3. Revised GIM 3 • Beginning April 25th GIM 3 will allow the use of preliminary rates when building a sponsored program budget. • There is no requirement to use preliminary rates. • Options! It is up to the unit to decide to: • Use the current rates • Use the preliminary rates

  4. Actual benefit costs • At the time of expenditure, the current fringe benefit rate will be applied regardless of what was listed in the budget submitted to the sponsor.

  5. Fringe Benefit Rates & Sponsored Projects CHANGES TO SAGE BUDGET Presented by: Ben Cornell, ORIS April 11th, 2013 MRAM

  6. Changes to SAGE budget • The ability to select Preliminary Benefit Rates will be available in SAGE Budget starting April 26th. • New budgets in SAGE will default to preliminary benefit rates. • Existing budgets in SAGE will keep current benefit rates.

  7. Changes to SAGE Budget • Selectable on the ‘Properties’ page of the budget. • Update all benefit rates with one click.

  8. Changes to SAGE budget • Benefit % (Preliminary) displays in Personnel Details for each period. • Update benefit rate by person/by period

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