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 Institutional Advancement offices.
As of 7/1/16, the College's indirect cost recovery rate on federal grants and contracts is 58% (through 6/30/20), is applied to all salaries except summer student salaries.
The benefit rates chargeable to new grants and contracts for 2016-2017 are 36.8% for faculty, 25.7% for temporary faculty with medical, 37% for administrative and professional employees, and 49.5% for staff (non-exempt) employees. The rate for summer salaries and temporary employees is 9%.
- CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards