Building Financial Projections for the Research Lab Brian Farmer, The Cleveland Clinic Foundation Anne Sullivan, Huron

6. Please note that these are relatively high level items. While we will be discussing some details, we�d like to know if there are any specific items that anyone would like highlighted or discussed. Mention they should ask questions throughout the presentation Please note that these are relatively high level items. While we will be discussing some details, we�d like to know if there are any specific items that anyone would like highlighted or discussed. Mention they should ask questions throughout the presentation

9. Most of this presentation to applies equally to core and non-core labs. However, if you when deciding whether to develop a core you should consider: A survey for potential users; Is this an area of Emerging Research the institution should support?; Is this an area of Emerging Technology that is best suited for a core?; Is there extramural support to develop a core (e.g. Fed funds for cores, a specific gift to support a core, etc.)Most of this presentation to applies equally to core and non-core labs. However, if you when deciding whether to develop a core you should consider: A survey for potential users; Is this an area of Emerging Research the institution should support?; Is this an area of Emerging Technology that is best suited for a core?; Is there extramural support to develop a core (e.g. Fed funds for cores, a specific gift to support a core, etc.)

10. As previously stated, many of the issues discussed today apply to both core and non-core labs. However, the balance of our discussion will lean towards labs developed outside of Core Services.As previously stated, many of the issues discussed today apply to both core and non-core labs. However, the balance of our discussion will lean towards labs developed outside of Core Services.

11. Or estimated decline of federal funding shortfalls Or estimated decline of federal funding shortfalls

13. Unfunded research To what extent is the institution matching or committing cost sharingUnfunded research To what extent is the institution matching or committing cost sharing

18. Is the package formalized or just a promise from the Dean/Dept. Chair?Is the package formalized or just a promise from the Dean/Dept. Chair?

20. Don�t forget the appropriate benefit costs.Don�t forget the appropriate benefit costs.

21. Consider what the sponsor will allow Consider who will retain the equipment Consider what the sponsor will allow Consider who will retain the equipment

22. How are costs allocated if the lab is shared?How are costs allocated if the lab is shared?

23. Consider occupied and vacant space Institutional policy often splits recoveries between PI, Dept, College, and Research Office, Consider occupied and vacant space Institutional policy often splits recoveries between PI, Dept, College, and Research Office,

25. Institutional policy often splits recoveries between PI, Dept, College, and Research Office. PI might be willing to allocate to support a lab. Might negotiate with Department Chair or College Dean for an allocation to phase out over time.Institutional policy often splits recoveries between PI, Dept, College, and Research Office. PI might be willing to allocate to support a lab. Might negotiate with Department Chair or College Dean for an allocation to phase out over time.

26. Negotiate!Negotiate!

32. Consider when the lab needs to seek additional grants Example of a 3 year projection Consider when the lab needs to seek additional grants Example of a 3 year projection

33. Refer to other labs who may have data or models to assist you Refer to other labs who may have data or models to assist you

34. Consider whether you need to ask for reports or metrics to be developed by the institution Consider whether you need to ask for reports or metrics to be developed by the institution

35. Do an inventory of the supplies on hand and stored to determine if you can slow the purchase of new supplies Share supplies with other labs Consider that restarting equipment contracts can be difficult though Shared equipment Rather than procuring new equipment Do an inventory of the supplies on hand and stored to determine if you can slow the purchase of new supplies Share supplies with other labs Consider that restarting equipment contracts can be difficult though Shared equipment Rather than procuring new equipment

45. Effective, proactive, and strategic management Effective, proactive, and strategic management