To develop your project budget, use the Budget spreadsheet template. Contact the Grants Office for assistance. All budgets are reviewed internally prior to proposal submission to ensure compliance with the sponsor’s and institution’s cost principles and policies. Refer to the Financial Administration policy document for details.
Note: Guidelines stated in a program announcement, solicitation, or other sponsor-issued document may supersede the guidelines provided below.
Important cost factors and other considerations that are typically included in a federally-funded grant budget are outlined below. These guidelines generally are applicable to proposals submitted by Union College that involve only Union College personnel and resources. If you are involved in a collaborative, multi-institution proposal, contact the Grants Office for assistance.
A. Salaries and Wages
Senior Personnel Salaries & Wage
This category includes compensation for work performed directly on proposed project activities. Include salary for Union’s Principal Investigator (PI) or Project Director (PD), co-PIs/PDs, and other Senior Project Personnel (i.e., Union faculty contributing to the project). Compensation for time normally spent on research within the term of appointment is deemed to be included within the faculty member’s regular organizational salary. As a general policy, federal sponsors limit the salary compensation requested in the proposal budget for senior personnel to no more than two months of their regular salary in any one year.
As standard practice, summer salary (July, August) may be included in the proposed budget. Unless otherwise specified, you may include an anticipated 4% annual cost-of-living increase in the propose budget.
The amount of salary requested must not exceed the level of effort (person-months) committed to the project, up to a maximum of two months total on all federally-sponsored projects. To calculate summer salary:
(Faculty Academic Base Salary / 9)
x Number of Summer Months
x Percent Level of Effort
Example: Professor ABC’s academic year base contract salary is $65,000 and she commits to 1.5 person months at 75% level of effort in her grant-related activities during the summer.
(65,000 / 9) x 1.5 x .75 = $8,125
Academic Year Salary
If you wish to request academic year salary for course buyout (course release time), contact the Grants Office for assistance and refer to the Course Release Calculation policy document.