The Business Office is generally responsible for administration of the fiscal aspects of grants and contracts such as grant accounting, development and negotiation of indirect cost rates and review of budget proposals. All other aspects of grant and contract administration are coordinated through the Provost's and Development Offices.
As of 7/1/12, the College's indirect cost recovery rate on federal grants and contracts is 57.40% (through 6/30/16), is applied to all salaries except summer student salaries.
The benefit rates chargeable to new grants and contracts for 2012-13 are 37% for faculty, 26% for temporary faculty with medical, 38% for administrative and professional employees, and 46% for staff (non-exempt) employees. The rate for summer salaries and temporary employees is 9%.
OMB Circular A-110, Uniform Administrative Requirements for Grants
OMB Circular A-21, Cost Principles for Educational Institutions
Further information is available from the specific government awarding agencies such as www.nsf.gov and in the Procedures Manual available on the Business Office Main Page.