Budget Resources and Templates
Prospective PI/PDs are strongly encouraged to take advantage of the support available through ORSP when preparing a budget for a grant proposal. Budget guidelines vary by funding source and by individual RFP. In addition, federal, state and University guidelines must be followed.
The prospective PI should come to the initial proposal planning meeting with a “wish list” of budget items that are needed for a successful project and ORSP will develop a detailed budget that conforms to funding agency and University guidelines, which will then be reviewed with the prospective PI/PD.
Faculty can use the following budget template to get an idea of what funding they will need to ask for: LINK
All salary requests must be made in accordance with the RFP budget guidelines and must be consistent with University policy on teaching overload and released time.
Grant-funded compensation during the academic year is paid as overload. Grant-funded compensation during the summer months may be paid as a percentage of salary.
If you plan to include release time in your proposal you must be aware of the funding agency’s guidelines. Guidelines vary by agency and by program. Release time requests must also be consistent with the University’s policy. Release time is calculated as a percentage of salary, with all appropriate fringe benefits applied. Grant-funded release time will only be approved if the dollar amount is fully supported by the internally or externally funded project. Release time can be paid from multiple funding sources and is based on the approved budgets of the funded projects.
Teaching overload payments are not permitted if a faculty member has been granted release time for research.
To calculate release time, use the following formula:
Each Course (3 credits per course) = ((base salary x .125) x FT fringe rate) + ((base salary x .125) x FT fringe rate) x Kean’s indirect rate
Summer I salary is calculated on a per credit rate. Summer II salary can be calculated either as a percentage of salary or a per credit rate. Summer salary will only be approved if the dollar amount is fully supported by the internally or externally funded project. Summer salary can be paid from multiple funding sources and is based on the approved budgets of the funded projects.
Summer Months (2 Months) can be calculated with the following:
- Work year is 10 months, so each month = 1/10 (10%) of base pay
- Work year extends from September 1 through June 30
- That leaves July and August available for summer support
Formula: Each Course = ((base salary x .1) x FICA) + ((base salary x .1) x FICA) x Kean’s indirect rate
Kean University’s current federally negotiated indirect cost rate is 59% of total direct salaries, wages and fringe benefits, if accepted by the funding agency. Some funding agencies or programs cap indirect costs. Indirect costs, to the extent allowed by the sponsor, must be included in all proposals.
To access the most recent Indirect Cost Agreement information, click here: LINK