To: Sponsored Program Services, Pre-Award
Fr: Ken Sandel, Associate Vice President, Sponsored Program Services Re: Inflation Rates for Sponsored Programs Proposal Budgeting
Date: October 7, 2024
The PERA system used by Sponsored Program Services for creating proposal budgets automatically applies inflation to all staff categories at the beginning of each project period based on the table below. Additionally, graduate fee remissions are inflated in future years to account for expected future increases based on historical estimates.
|
Categories |
Current Inflation Rate |
|
All Personnel Salary Costs/Categories |
4.0% |
|
Graduate Fee Remissions (FY2024 Grad Fee Rates through FY2027) |
0.0% |
|
Graduate Fee Remissions (FY2028 and beyond) |
2.0%* |
* Manual adjustment required due to system functionality limitations.
These inflation factors have historically been estimated based on the salary increase policy at the University from the previous 10 years. Based on more recent salary increase policies, effective immediately, we will budget using the inflationary rates listed above in sponsored project proposals. Graduate fee remissions have been estimated to remain stable through FY27 as a result of the freeze on student tuition rates. Inflation rates are applied consistently for all proposal submissions based on the estimate for each category.
cc: Managerial Accounting Services
Signed version on file with the Sponsored Programs office.
