Proposal Budget - Rates

Overview

The Rates tab in the Proposal Budget allows you to use the default institutional rates or override the rate used for the budget calculations on F&A, Fringe, Inflation, Vacation, Lab Allocation, and Other rates as applicable to your institution.  Below outlines the options within the Rates tab and how to utilize the functionality.

Rates

The Rates page of the Proposal Budget document is made up of tabbed sections and unique actions buttons at the top of the page.  These allow you to view, specify, modify, synchronize, and reset all rates associated with the Proposal budget version.

Action Command Button	Brief Description
Refresh All Rates	Use this tool to revert ALL manual changes to the “applicable” rates in one click. The system resets all values within the “applicable rate” fields to match the rates listed within the “institute rate” fields (whether or not the institute rates are current) within all the rates sections
Sync All Rates	Use this tool to update an older proposal document with current institutional rates, or to apply recently maintained institutional rates. The system populates data in ALL rate tabs with the “institute rate” and “applicable rate” fields with the current rates from the Unit Hierarchy rate table within all the rates sections
Sync To Current Institutional Rates	Click the sync to current institutional rates button to bring Institutional Rate and Applicable Rate columns on a single budget up to date with rates for the current budget period.
Reset To Default Rates	Click the reset to default rates button to change all editable values in the column of a single budget to match the existing Institute Rate values (whether old or current – those which were brought in upon Proposal Budget creation or subsequent synchronization).

The Rate types and classes that appear are driven by the Proposal and Award type, and what has been maintained in your local instance.  The “applicable rates” are pre-populated with the default “institute rates” which are pulled in from an institutional rate table located within the Unit Hierarchy. You may override the established/defaulted F&A rates for this proposal budget by editing the Applicable Rates column. You can enter a different rate for each fiscal year. 

All applicable rates will be applied to line item costs within the Expenses page.  Calculations will be performed automatically, based on the following criteria:  Object code (cost element) type, Unrecovered F&A Rate Type, Over Head Rate Type, & Activity Type. 

Recalculation After Save:  After you make changes to this section and save the document, the budget is recalculated.

Column/Button	Description
Description	The abbreviated name of the Research F&A rate type is displayed.
On Campus	Yes or No is displayed to indicate whether or not the rate type is on campus.
Fiscal Year	The associated fiscal year is displayed in yyyy format, and represents the fiscal year in which the Period Start Date falls.
Start Date	The Proposal Budget Period Start Date is displayed in mm/dd/yyyy format.
Institute Rate	The rates from the Unit Hierarchy rate table for the Activity Type of the Proposal Budget are displayed.  If no activity type exists in the Proposal Details & Dates section of the Unit Hierarchy Institutional Rate table, 0.00 values are displayed.
Applicable Rate	Required.  Institutional Rate values are populated and editable if override data has not been entered in the Proposal Rates section of the Commitments page.  If no activity type exists in the Proposal Details & Dates section of the Unit Hierarchy Institutional Rate table, 0.00 values are displayed.
Reset Rates	Click the reset rates button to change all editable values in the column of a single budget to match the existing Institute Rate values (whether old or current – those which were brought in upon Proposal Budget creation or subsequent synchronization).
Sync Rates	Click the sync rates button to bring Institutional Rate and Applicable Rate columns on a single budget up to date with rates for the current budget period.

Rate Types

The available rates out of the box are described below.  These rate types can be configured to use (or not use and hide) as you desire at your institution to meet your needs.  Only configured rate types will display as separate panels in the Rates tab.

• Fringe Benefits: The Fringe Benefits section identifies which employee fringe benefit rates will be applied to each Proposal Budget version.
• Inflation: The Inflation section identifies what inflation rates will be applied to each object code within an Proposal Budget version for future years.  Inflation rates can be set by each institution, but generally map to the following ‘rate types’ on an object code level:  employee salaries (of various types), student wages, tuition, and materials and services.  The object code tables will list which object codes falls into each various ‘rate type’ as well as which object codes are inflation-bearing.
• Vacation:  This is an optional section that may be implemented at the discretion of your institution based on need.  The Vacation section identifies the vacation rates that will be applied to each Proposal Budget version.
• Lab Allocation – Salaries:  This is an optional section that may be implemented at the discretion of your institution based on need.
• Lab Allocation – Other:  This is an optional section that may be implemented at the discretion of your institution based on need.
• Other:  This is an optional section that may be implemented at the discretion of your institution based on need.  It identifies what other rates will be applied to each Proposal Budget version, and allows for individual institutions to populate rates which may be outside of those rate classes/types included in the base product.