Do We Have An Accord?
New fringe rates take effect in two weeks’ time (October 1), and it’s worth a reminder that any projects awarded with budgets under the previous rates will be responsible for the application of the new rates. This may mean some re-budgeting so now may be a good time to do a cost projection with the new rates. Some projects will feel little to no impact; others (particularly those with a lot of non-faculty research persons) will have significantly higher personnel costs. You may need to rebudget some of your funds; if this is the case, be sure to check the terms of your award to see whether you will need to request agency permission to do so.
If you find yourself with a significant budgetary hardship once you’ve projected your expenses on the new rates, reach out to your GCO for options that may be available to you through the university.