Rhodes’s federally approved rate for indirect costs is 47% of all salaries and wages, including student wages. In drafting grant proposals, departments should budget 47% of salaries and wages, excluding benefits, for indirect costs. Grant proposals with salaries should also include a budget for fringe benefits at the approved rate of 28% for faculty/staff salaries and 8% for student wages.
1. Indirect Cost Policy for Grants not directly related to a specific faculty member’s research (College or Programmatic Grants)
It is the policy of Rhodes College to retain 100 percent of indirect costs to cover research-related overhead expenses incurred by the College
Indirect Cost Account: All of the indirect costs on each externally-funded grant will be deposited in a non-restricted account to be used for professional development by the Office of Academic Affairs. Some examples of how this account can be used would include: seed money for faculty conducting pilot research in anticipation of applying for external support; interim support to faculty and grants staff to cover travel costs associated with compliance workshops, or for matching or institutional cost-sharing obligations.
2. Indirect Cost Policy for Faculty Research Grants
In support of research activities, the College may allocate up to 50% of indirect cost recovery funds received from a successful grant application to the department of the principal investigator, subject to the approval of the Vice President of Academic Affairs. Questions concerning budgeting or indirect cost recovery should be directed to the Finance Office.
The grant or contract must provide sufficient financial provisions to purchase the equipment, supplies, and research assistance necessary for the project. The annual budget of the Office of Academic Affairs may not be used to meet such expenses unless agreed to by the Office of Academic Affairs. Equipment and supplies purchased by funds in the grant or contract are considered property of the College. Subject to negotiation and approval the faculty member and the College may agree to the purchase and/or transfer of research-related equipment should the faculty member not continue at Rhodes.
Faculty members who wish to seek course releases during the academic year of a grant may request funding for no more than one course release per academic year that the grant support covers. Any exception to this limit must be approved by the Office of Academic Affairs before the grant application is submitted. The reimbursement rate for a course release is 10% of salary or $7,500, whichever is higher, plus fringe benefits.