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External Funding Fiscal Issues CEHD CPI January 2014.

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Presentation on theme: "External Funding Fiscal Issues CEHD CPI January 2014."— Presentation transcript:

1 External Funding Fiscal Issues CEHD CPI January 2014

2 Resources for PIs Becky Carr, Dean’s Office Becky Kubina, EAHR Kathy May, EPSY Mary Helen Coady, HLKN Kelly Freeman, TLAC

3 So you’ve just received external funding… Contact your PA at SRS Contact your department fiscal person Meet the requirements to get an account prior to the award Request interim funding if needed

4 Work with your department resource Do you have a new account? Are there any people who will be paid from this account? What type of expenditures have you budgeted? Monthly review of funds

5 Problem areas in the past – Memberships – Equipment Expenses – Allowable?

6 Any salary savings generated by external funding returned to the College will be distributed using these guidelines: – the Dean's Office will retain 20%; the remaining 80% will be sent to the PI's department; – if any expenditure by the department is required to hire adjunct faculty for course PI is buying out is incurred, this amount will be subtracted from the 80% of salary savings left after the Dean's Office share; – from the funds remaining after the Dean's 20% and any course replacement costs are subtracted, 33% will be awarded to the PI and 67% to the PI's department. Principal investigators, and particularly junior faculty, are encouraged to discuss with their department head any proposed exceptions to departmental course buy-out policy in order to accomplish the work scope of the project within budget limitations. Each department's policy (on dollars required on grant budgets for course buyout and the manner in which salary savings will be distributed) should be clearly articulated, accompanied by a numerical example illustrating the policy and available for all faculty to read on a departmental website. Salary Savings

7 IDC ranges from 0-46% VPR’s Office returns 15% directly to the PI – As of FY2012 VPR’s Office currently returns 35% to the Colleges – Historically from 15-45% – Historically CEHD has distributed 33% PI, 34% to department, 33%to college Indirect Cost Returns

8 CEHD IDC Return

9 Texas A&M University Indirect Cost Distribution Old DistributionNew Distribution PI-Faculty Research Incentive Fund0% 15% College Program Development Fund39.5% (average)35% University Strategic Investment Fund40%35% Grants Administration Fees20.5% (approx.)15%

10 Distribution of IDC in CEHD Return to College 45% Return to College 30- 35%, PI 5% Special return on Qatar account Return to College 35%, Direct to PI 15%

11 Expense Categories for College IDC over 10 years

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