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Student Wages in the Budget Template

Tab

FY 2018-19

FY 2019-20

FY 2020-21

FY 2021-22

Hourly Rate

$11.10

$11.80

$12.50

$13.20

Fringe Rates

Fringe Calculation

Rate (%)

Components

Staff and Faculty: Academic Yr.

32.0

Base rate1, TIAA-CREF2, and insurance3

Faculty: Summer and Sabbatical

9.0

Base rate

Student

9.0

Base rate

1 FICA, Worker’s Comp. = 9 %
2 9 %
3 14.3 %

Direct/Indirect Costs

Direct Costs: Costs that are charged directly to sponsored projects and are clearly identified within that project's activity and objectives.

Indirect Costs or Facility and Administrative: Costs that are not directly related to a specific sponsored project and are incurred for common or join objectives, sometimes referred to as overhead.

Current rate: 55.3% of direct salaries and wages, excluding fringe benefits

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