Your proposal administrator will review the sponsor’s guidelines and assist you with the preparation of a proposal budget. The proposal administrator will also review your proposal according to Texas A&M University System System policies. They will verify the salaries and fringe benefits of current the A&M System employees and assist you with estimates for to-be-named employees. They will ensure that the appropriate A&M System facilities and administrative rates are budgeted for the project. They will also incorporate subawardees’ budgets into your budget, provided that the subawardee submits the required budget and documentation in advance of proposal submission lead times. Proposal administrators will also assist you in revising your budget, if required, by the sponsor, prior to award. Below are a few links to helpful documents:
Q: How is my total salary including fringe calculated for each budget period?
A: There are several steps to this process. Lets use an example of someone who makes $100,000 per year and wants to dedicate 1% of their time per year with a 3% yearly increase in salary.
|Explanation||Formula||Our Example||Results Used for Total|
|First we need to calculate their monthly salary.||(Yearly Salary/12)||($100,000/12) = $8,333.33|
|Next we need to calculate amount of person months they will be dedicating to the project.||(Percent Effort x Number of Months)||(.01 x 12) = .12|
|We take the number of person months and multiply it by the monthly salary and any yearly increase. This will be our salary for each year.||(Person Months x Monthly Salary x Yearly Increase)||(.12 x $8,333.33 x 1.03) = $1,030||$1,030|
|To calculate fringe we would take the yearly project salary and multiply by the appropriate fringe rate.||(Fringe Rate x Project Salary)||(.185 x $1,030) = $190.55||$190.55|
|To calculate insurance we would take the appropriate insurance rate and multiply by person months.||(Insurance Rate x Person Months)||(.12 x $771) = $92.52||$92.52|
|Total Salary Including Fringe||$1,313.07|