Determine the percent of effort pledged and multiply by the full-time salary dollar amount. Full time salary is the amount listed on OPUS as "Full Time Rate."
Multiply the dollar amount resulting from Step One by the current fringe benefit rate. (This rate is located in Administrative Applications, choose FIN and Select Screen 9 [Payroll Rate Inquiries])
Add the result of Step One and Step Two.
Multiply the sum calculated in Step Three by the Facilities and Administrative Cost Rate (also called indirect cost rate). Always use the STANDARD rate listed in the Facilities and Administrative Rate Agreement. Choose either the Facilities and Administrative Rate Agreement or the Facilities and Administrative Rate Components to determine the correct rate.
Add the result of Step Three to the amount calculated in Step Four. This is the amount of cost share committed including salary, fringe benefits and indirect costs.
| Full Time Salary: | $6496 |
| Percent cost share pledged: | 10% |
| Fringe benefit rate: | 21.7% |
| Indirect cost rate: | 26% |
| Step One: | 0.10 x 6496 = | 650 |
| Step Two: | 650 x 0.217 = | 141 |
| Step Three: | 650 + 141 = | 791 |
| Step Four: | 791 x 0.26 = | 206 |
| Step Five: | 791 + 206 = | 997 |
| $997 is Total Cost Share Committed |
Calculation For Faculty With Clinical
Salary:
Determine the full-time salary amount. Full time salary is the amount listed on the PAF as "Full Time Rate."
Determine the clinical salary amount from the Change Transaction Memo.
Determine total salary amount by adding the value determined in Step One to the value determined in Step Two.
Determine the percent of effort pledged and multiply by the result of Step Three.
Multiply the dollar amount resulting from Step Four by the current fringe benefit rate. (This rate is located in Administrative Applications, choose FIN and Select Screen 9 [Payroll Rate Inquiries])
Add the result of Step Four and Step Five.
Multiply the sum calculated in Step Six by the Facilities and Administrative Cost Rate (also called indirect cost rate). Always use the STANDARD rate listed in the Facilities and Administrative Rate Agreement. Choose either the Facilities and Administrative Rate Agreement or the Facilities and Administrative Rate Components to determine the correct rate.
Add the result of Step Six to the amount calculated in Step Seven. This is the amount of cost share committed including salary, fringe benefits and indirect costs.
| Full Time Salary: | $6496 |
| Clinical Salary: | $1525 |
| Total Salary: | $8021 |
| Percent cost share pledged: | 10% |
| Fringe benefit rate: | 21.7% |
| Indirect cost rate: | 26% |
| Step One: | 6496 = | 6496 |
| Step Two: | 1525 = | 1525 |
| Step Three: | 6496 + 1525 = | 8021 |
| Step Four: | 0.10 x 8021 = | 802 |
| Step Five: | 802 x 0.217 = | 174 |
| Step Six: | 802 + 174 = | 976 |
| Step Seven: | 976 x 0.26 = | 254 |
| Step Eight: | 976 + 254 = | 1230 |
| $1230 is Total Cost Share Committed |
Non-FEC cost sharing is calculated using the standard indirect cost rate on the benefiting budget. All cost sharing noted in the budget justification and on the budget pages must be documented on the GC-1 Addendum. If a spreadsheet is required to document the cost sharing pledge, please download the initial cost sharing breakdown spreadsheet.
