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Budget Calculations 1

Budget Calculations 1. You’re submitting a lump sum budget on a proposal to a foundation . Your PI wants to recover one summer month of compensation next year (2014/2015). Calculate one summer month salary.

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Budget Calculations 1

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  1. Budget Calculations 1 You’re submitting a lump sum budget on a proposal to a foundation. Your PI wants to recover one summer month of compensation next year (2014/2015). • Calculate one summer month salary. • Find the appropriate fringe benefit rate. https://www.finance.duke.edu/resources/docs/FringeBenefits_130708.pdf • Calculate the fringe benefits. • Calculate the total personnel costs per year.

  2. Budget Calculations 2 You’re submitting a one year proposal to NSF and your PI wants to recover one summer month of compensation per year. Your PI’s institutional base salary is $82,000. • Calculate one summer month salary. • Find the appropriate fringe benefit rates. • Calculate the fringe amount. • Find the total of salary and fringe benefits.

  3. Budget Calculations 3 You’re about to finish the budget for a one-year, on-campus proposal and all you have left to do is calculate the F&A. • Calculate the total direct costs. • Find the correct F&A rate on the website. • Calculate the F&A to be charged to the grant. • Calculate the total project costs.

  4. Budget Calculations 4 The PI wants you to make some changes to the budget because she now plans to purchase a piece of capital equipment on the project. • Calculate the total direct costs. • Calculate the modified total direct costs. • Find the campus F&A rate. • Calculate the F&A to be charged to the grant. • Calculate the total project costs.

  5. Budget Calculations 5 Your PI has identified an expert in the field who works at UNC Chapel Hill, she wants to add a subcontract to UNC. • Calculate the total direct costs. • Calculate the modified total direct costs. • Find the campus F&A rate. • Calculate the F&A to be charged to the grant. • Calculate the total project costs.

  6. Budget Calculations 6 The faculty member at UNC-CH has convinced your PI that they should double their efforts on the grant and seek support for two years instead of one. • Calculate the total direct costs. • Calculate the modified total direct costs. • Find the campus F&A rate. • Calculate the F&A to be charged to the grant. • Calculate the total project costs.

  7. Budget Calculations 7 You’re about to finish the budget for a one-year proposal and all you have left to do is calculate the F&A rate. Most of the work on this project will be conducted in Tanzania (off campus). • Calculate the total direct costs. • Find the campus F&A rate. • Calculate the F&A. • Calculate the total project costs.

  8. Budget Calculations 8 You’re submitting a three year proposal to NSF and your PI wants to recover one summer month of compensation per year. NSF allows for a 3% inflation rate. • Calculate one summer month. • Find the Fringe Benefit Rates. • Calculate the salary increases for each year. • Calculate the Fringe Benefits for each year. • Find the Total Personnel Costs for each year. • Then total the personnel costs for the project.

  9. Budget Calculations 9 You’re submitting a one year proposal to NIHand your PI wants to recover one summer month of compensation per year. Your PI’s institutional base salary is $182,000 and she has a 9 month appointment. • Calculate one month PI salary _____________________________ • Calculate the NIH cap on one month salary _______________________ • Subtract the one month PI salary from the NIH 1 month cap to calculate the amount that will be cost shared _______________________ • Find the total of salary and fringe benefits.

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