Policies on Grant Budgets
Any grant that requires a signature by a college official or any commitment from the college must go through an internal endorsement procedure using the Grant Proposal Routing Form that requires the signatures of the faculty member writing the grant, the department chair, the grants officer, and the Vice President for Finance and Treasurer. A signature is needed from Hood’s Authorized Organizational Representative (AOR) for all federal and state grant proposals. Grant proposals that have not gone through the above institutional review will not be approved for submitter.
- Use your current academic year salary as a base for calculating salaries in any budget. For summer salary, you may take up to two months or 2/9 of your salary per summer. Exceptions to this policy must be approved by the provost. Summer salaries may be adjusted by a cost of living increase per year in multi-year budgets. Please check with the grants office and the finance office for more information. Note: faculty can use grant money to substitute for a Hood salary during the academic year when the faculty member is on leave, but cannot increase regular academic year salary through grant stipends.
- If any specific individuals are named in the budget, use their current salary as a base for calculations. If the budget involves new positions, even temporary ones, consult with the provost and the grants officer before proceeding.
- If Hood College students are named in the budget, use at least minimum wage as a base for calculations. If using residence hall space during the summer as a matching part of your grant, check with conference services for the appropriate amount.
Fringe Benefits: check with the finance office for the current rate based on academic or summer work.
Negotiated Indirect Cost Rate: check with the finance or grants office for the current rate.
- If your proposed budget includes any equipment for a cost of over $3,500, you must fill out the equipment section of the Hood College Grant Proposal Routing Form to include the following items
- At least three estimates of the cost of the equipment from reputable sources
- An estimate of the annual maintenance and/or operating cost
Note: If you receive the grant, you will need to send copies of the three estimates to Office of the Provost and Vice President of Academic Affairs.
- If your grant proposal includes a cost-sharing or matching commitment, you must indicate on the Hood College Grant Proposal Routing Form your sources for the match.