The DEFAULT_INFLATION_RATE_FOR_SALARY Parameter allows institutions to maintain a numeric inflation rate for populating the Base Salary values that appear on certain Grants.gov Budget forms (e.g. RR Budget 5 & 10 year, FedNonFed Budget 5 & 10 Year, etc.). The rate defined in this parameter will be applied to the Base Salary field in the Project Personnel Section in the Budget, and automatically calculated in the Salary by Period tab for each individual if desired (and subsequently those amounts will populate the Base Salary fields for each project period on the applicable Grants.gov Budget Forms).
The out-of- the-box parameter value for DEFAULT_INFLATION_RATE_FOR_SALARY Parameter is 3 (i.e. 3%).
Valid Parameter Value(s)
The DEFAULT_INFLATION_RATE_FOR_SALARY Parameter Value accepts a single numeric value:
|<enter inflation value>||
When modifying this parameter, institutions should input the numeric value only, for the inflation rate they wish to apply (e.g. 3).
Related Maintenance Table(s)
If the DEFAULT_INFLATION_RATE_FOR_SALARY Parameter is set to 3, then in Proposal Development Budget → Project Personnel section → Person Details → Salary by Period tab, if the user clicks the [Recalculate] button, the Salary field(s) will populate as follows:
Period 1 = Base Salary (as entered in the Details tab for the Person)
Period 2 = Period 1 Salary x inflation rate defined in this Parameter
Period 3 = Period 2 Salary x inflation rate defined in this Parameter
...and so on.