GUIDELINES FOR FISCAL ASPECTS OF GRANTS.
§5-04.01 Faculty Compensation
§5-04.02 Supplementation for Grant/Contract Efforts
§5-04.03 Fringe Benefits
§5-04.04 Advanced Funding of Grant Programs
§5-04.05 Billing of Funding Agencies
§5-04.06 Travel Expenditures on Grant Budgets
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§5-04.01 - Faculty Compensation
Grant contract funds may be used to supply part of the base compensation of faculty in exchange for a reduction of the normal academic load (and concomitant reduction of the University's contribution to the faculty member's compensation). Determination of the amount of reduction and of the responsibilities from which the faculty member will be released is to be agreed to by the faculty member involved, the project director, Department Chairperson, and appropriate Dean.
§5-04.02 - Supplementation for Grant/Contract Efforts
In direct parallel with opportunities for faculty income supplementation in off-campus activities such as consulting, professional practice, and part-time teaching which do not impair the performance of regular academic duties, the University does permit supplementation for grant/contract efforts within Fordham. Normally, such efforts may involve one day a week during the nine-month academic year. For any work beyond this of a continuing or regular nature, annual approval by the Vice President for Academic Affairs is required.
§5-04.03 - Fringe Benefits
Staff employed on sponsored projects will be eligible for fringe benefits to the extent that the full costs of these benefits are covered either by the indirect cost allowance or a direct cost element of the grant budget. These benefits cannot exceed those normally provided by the University. Current cost tables on fringe benefits as developed by the University Personnel Office are on file in the Office of Research.
§5-04.04 - Advanced Funding of Grant Programs.
No University funds will be disbursed unless the University has a signed contract, or at a minimum, a letter of intent from an authorized official of a granting agency. An approved budget must also be on file in the Office of Research. These agreements should clearly spell out the financial terms attending the projects in question and there should be a revolving fund of at least 10% for the project in the University's Finance Office. In those instances where a revolving fund arrangement cannot be worked out, a schedule of payments from the agency to the University should be clearly established in advance of any disbursement of University funds. In those cases where the University is obliged to make advance payments, and otherwise provide the project its working capital, the University should receive specific reimbursement for this service as included in the indirect cost allotment.
§5-04.05 - Billing of Funding Agencies.
Responsibility for billing granting agencies for obligations owed the University will rest initially with the University's Finance Office. The Financial Office, if necessary, may refer accounts to the Director of the Office of the Controller who will be responsible together with the project director, for requesting payment from the granting agency.
§5-04.06 - Travel Expenditures on Grant Budgets.
(a) Per diem will be allowed on living expenses (accommodations and meals) at the current established rate.
(b) Direct cost of travel can be covered including air coach, rental cars, taxis, personal cars at the current University established rate, and parking fees, where permitted by the granting agency.
(c) The current University established rate for per diem and personal car costs per mile shall be set annually by theadministration, in consultation with the Faculty Salary and Benefits Committee and the Research Council.