Our friends in Sponsored Program Administration recently announced adjustments to the fringe benefit rates, based on the amendment to our Federal Rate Agreement. These changes are effective today (10/1/14); here are the highlights, in case you missed them:
- There are now only four fringe rate categories (reduced from the previous six).
- Employee classes are allocated by new role/function definitions.
- The “premium” rate that was previously applied to certain designated funds has been eliminated.
These changes will impact the charges to non-General Fund funds, depending on the categorical mix of employees that are charged to those funds. A schedule showing the “old” and “new” rates by employee class was provided by the Associate Vice President for Fiscal Operations and Controller (Jim Barbret), and is accessible here.
Mr. Barbret has indicated that the Fiscal Operations website will be updated as soon as the updated rate agreement is in hand. Gail Ryan, Assistant Vice President for SPA, has also offered to answer any questions that you may have. And, as always, RAS is here to help as well!