Published August 16, 2023 via Research News
Per the University’s Federal negotiated facilities and administrative (F&A) cost rate agreement, Federal awards that have a competitive start date on or after July 1, 2021, will utilize a 55.5% (MTDC) F&A rate effective 7/1/23. Accordingly, the F&A rates for these awards were updated in Workday to the 55.5% rate earlier this month (Rate Agreement = 1. Federal Rate Agreement (07/01/2019) and Cost Rate Type = On-Campus Research). The list of the awards/grants that were updated with the new rate can be found in Box via this link.
Sponsored Projects Accounting (SPA) suggests that the PI or his/her designee should review their awards to determine if the budgeted amount for Indirect Costs on each Grant Line (GR#) needs to be adjusted based upon the application of the lower rate. It is the academic unit’s responsibility to monitor the direct and F&A budget amounts throughout the project’s life. Accordingly, SPA maintains a F&A Re-budget Template to assist with this review and it is located on SPA’s website via this link. If the academic unit determines that a re-budgeting of funds between directs and F&A due to the rate change is deemed necessary, a copy of the Re-budgeting Template should be attached to the related Budget Amendment (BA) in Workday. SPA will not initiate/process these adjustments.
Note: If you find an award that did not change and you feel it should have based upon the above noted logic, then please contact the appropriate SPA team mailbox (spaprivategrants@wustl.edu, spacontracts@wustl.edu, spadhhsgrants@wustl.edu or spaothergovtgrants@wustl.edu).
If you have any other questions about this information, please contact Lindsay Danner (ldanner@wustl.edu), Liz Colletta (ecolletta@wustl.edu) or Joe Gindhart (jgindhart@wustl.edu) in SPA.