Budget Exercises

Report
Budget Calculations 1
You’re submitting a lump sum
budget on a proposal to a
foundation. Start date 1/1/2016.
Your PI wants to recover one
summer month of compensation
(June 2016).
1. Calculate one summer
month salary.
2. Find the appropriate fringe
benefit rate.
https://www.finance.duke.ed
u/resources/docs/FringeBen
efits_130708.pdf
3. Calculate the fringe benefits.
4. Calculate the total personnel
costs per year.
Personnel Costs Summer
Salary
$82,000
Fringe Benefits
Rate
Calculated
Amount
Total Personnel
Costs Per Year
Budget Calculations 2
You’re submitting a one year
proposal to NSF. Start date
1/1/2016. Your PI wants to
recover one summer month of
compensation (June 2016). Your
PI’s institutional base salary is
$82,000.
1.
2.
3.
4.
Calculate one summer month
salary.
Find the appropriate fringe
benefit rates.
Calculate the fringe amount.
Find the total of salary and
fringe benefits.
Personnel Costs
Summer
Salary
82,000.00
Fringe Benefit Rate
Fringe Benefits
$
Total Personnel Costs Per Year $
Budget Calculations 3
You’re about to finish the
budget for a one-year, oncampus proposal. Start date
1/1/2016. All you have left to
do is calculate the F&A.
1. Calculate the total direct
costs.
2. Find the correct F&A rate
on the website.
3. Calculate the F&A to be
charged to the grant.
4. Calculate the total project
costs.
Line Items
Total Personnel Costs
$27,187.00
Travel
$5,000.00
Consultants
$10,000.00
Other
$7,500.00
Total Direct Costs
F&A Rate
Calculated Amount
Total Project Costs
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.
1.
2.
3.
4.
5.
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.
Line Items
Total Personnel Costs
$27,187.00
Travel
$5,000.00
Consultants
$10,000.00
Equipment
15,000.00
Other
$7,500.00
Total Direct Costs
Modified Total Direct
Cost
F&A Rate
Calculated Amount
Total Project Costs
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.
1.
2.
Calculate the total direct
costs.
Calculate the modified total
direct costs.
3.
Find the campus F&A rate.
4.
Calculate the F&A to be
charged to the grant.
5.
Calculate the total project
costs.
Line Items
Total Personnel Costs
$27,187.00
Travel
$5,000.00
Consultants
$10,000.00
Equipment
$15,000.00
Other
$7,500.00
Subcontractor
$18,000.00
Total Direct Costs
Modified Total Direct
Cost
F&A Rate
Calculated Amount
Total Project Costs
Budget Calculations 6
Line Items
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.
1.
2.
3.
4.
5.
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.
Year One
Year Two
Total Personnel
Costs
$27,187.00 $28,003.00
Travel
$5,000.00 $5,000.00
$10,000.00 $10,000.00
Consultants
Equipment
Other
Subcontractor
Total Direct Costs
F&A Rate Modified
Total Direct Cost
F&A Rate
Calculated Amount
Total Project Costs /
year
Total Project Costs
$15,000.00
$7,500.00 $7,500.00
$18,000.00 $18,000.00
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).
1. Calculate the total direct
costs.
2. Find the campus F&A rate.
3. Calculate the F&A.
4. Calculate the total project
costs.
Line Items
Total Personnel Costs
$27,187.00
Travel
$5,000.00
Consultants
$10,000.00
Other
$7,500.00
Total Direct Costs
F&A Rate
Calculated Amount
Total Project Costs
Budget Calculations 8
You’re submitting a three year
proposal to NSF. Start date
1/1/2016. Your PI wants to
recover one summer month of
compensation per year. NSF
allows for a 3% inflation rate.
1.
2.
3.
4.
5.
6.
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.
Personnel
Costs
Summer
(2014-15)
Year Two
Summer
Year Three
Summer
Salary
$82,000
Fringe
Benefit Rate
Fringe
Benefits
Total
Personnel
Costs Per
Year
Total
Personnel
Costs
24.8
Budget Calculations 9
You’re submitting a one year proposal to NIH. Start date 1/1/2016. Your PI
wants to recover one summer month of compensation (June 2016). Your PI’s
institutional base salary is $182,000 and she has a 9 month appointment.
1. Calculate one month PI salary _____________________________
2. Calculate the NIH cap on one month salary _______________________
3. Subtract the one month PI salary from the NIH 1 month cap to calculate
the amount that will be cost shared _______________________
4. Find the total of salary and fringe benefits.
Personnel Costs
Salary
182,000.00
Fringe Benefit Rate
Fringe Benefits
Personnel Costs
Total Personnel cost
NIH amount
$
$
Cost shared

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