Principal Investigators receiving federal research funds are required to adhere to the following grants management guidelines:
Office of Management and Budget (OMB) cost principles for educational institutions are outlined in OMB Circular A-21, A-122, and A-87. The circulars include information on the specific costs allowed for federally funded projects.
Currently through 6/30/2013, Furman University's on-campus indirect cost rate (F&A) is 45% of all DIRECT COSTS, excluding capital expenditures and subawards. The University capital expenditure threshold is $5,000. Furman's off-campus rate, if the research or project will take place off campus, is 12%. [However, at times a federal agency will specify a maximum direct cost rate, such as 25%, to be used for a specific grant competition.]
Office of Management and Budget (OMB) administrative requirements that apply to grants awarded to institutions of higher education by state and local governments are outlined in OMB Circular A-102 and A-110. Guidelines include pre- and post-award requirements, as well as award fulfillment requirements. [Latest revisions were made on 9/30/00.]