Proposing of Proposals for Fiscal Year 2016
In preparation for the upcoming fiscal year, Sponsored Programs would like to remind all project directors with contracts funded through the State of Kentucky that expire on June 30, 2015 to process budget proposals for FY 2016. Upon submission, we will ask that state agencies send FY 2016 contracts to us by June 1. We expect this will allow enough time for Finance Cabinet approval so that funds will be available for use on July 1 without an interruption in funding availability.
If you have an expiring sponsored project that you expect to be renewed in the upcoming fiscal year, please complete the Internal Review and Approval Form (IRAF) and submit it along with a detailed budget and proposal at least five days in advance of the sponsoring agency’s deadline for receipt. For projects that continue from year-to-year without the submission of a formal proposal, please process the IRAF and budget as soon as possible. Keep in mind that all budget requests must be routed with an IRAF through Sponsored Programs for approval prior to submission to sponsoring agencies. If changes become necessary based on feedback from sponsoring agencies, adjustments can be made prior to the acceptance of an award.
Estimated fringe benefits rates by employee class are available on the Sponsored Programs website and may be adjusted following the completion of the rate negotiation process with the Federal government. Anticipated rates for FY 2016 are as follows:
- Exempt Staff and Faculty on Extended Appointments with KTRS or ORP Retirement: 34.8%
- Non-Exempt Staff and Exempt Staff with KERS Retirement: 69.6%
- Faculty with 9-month appointments: 33.4%
- Retirement Transition Program Employees and Previous Retirees: 20.8%
- Part Time Employees without Benefits: 8.1%
- Students: 0.9%
In preparing proposed budgets, please remember to use the University’s federally-negotiated indirect costs rate, unless the sponsoring agency imposes a limitation on the recovery of indirect costs. If the rate is limited, written documentation from the sponsoring agency is required as an attachment to the IRAF (i.e., copy of funding opportunity guidelines or a recent letter/email from an authorized agency representative).
If you need assistance or have questions about the process, please feel free to contact Sponsored Programs.
Published on March 23, 2015