Fixed F&A Rate Agreement for FY2018

MIT has recently signed an agreement with the Office of Naval Research (ONR) for fixed F&A rates for FY18. As of today, Kuali Coeus (KC) has been updated with these new rates (effective July 1st, 2017). The new FY18 fixed F&A rates will be updated in SAP in mid-July, after FY17 costing sheets have completed and will be reflected on your summary statements by the end of the month. For your reference, the rate agreement has been posted to the OSP website --- http://osp.mit.edu/facilities-and-administrative-fa-rates

 

FY18

F&A - On-Campus

59.0%

F&A - Off-Campus

5.0%

Please note that, for the first time in many years, we were able to negotiate FIXED F&A rates with ONR prior to the beginning of the fiscal year. This will provide the Institute and research community with rate certainty for FY18, avoiding provisional rates and the possibility of mid-year rate adjustments and retroactive re-pricing of awards.

Synchronizing Rates to in-progress proposals in KC:

In order to have the updated rates applied to currently “In Progress” proposals, users will need to Sync their budget rates. Any proposal created before the date of the announced Kuali Coeus rates maintenance will still have the FY2017 fixed F&A rates. Also, please be sure to update your budget justification to reflect the new F&A rate.

Any proposals already enroute for approval will not be rejected back solely to update the F&A rates. If a proposal is returned for revisions requestedfor other reasons, the rates should then be Synced and your justification updated.

Please note, should an award come in for a proposal that was submitted with the old rates, the current rate in effect at the time of the award will be applied.

For instructions on syncing your proposals, please see http://kc.mit.edu/quick-reference-cards
The Sync Budget Rate quick card is located in the Budget Topics section.

Please contact your OSP representative if you have any questions.