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Provost's Office > Administrative Info: Financial > Budget Overview > Fund Types: Grants The following links contain more detailed information about the most important budget allocations and other FUND types available in the Academic Affairs Executive Area, and their respective operational procedures. Grants and Contracts Grants and Contracts Source and Use These are the awards of money for specific activities of a faculty or staff member, in response to grants proposals submitted to off-campus funding agencies. These can include federal and state government agencies, foundations, industries and business companies. Research is a primary mission of the Amherst campus, and grants and contracts are a primary source of support for academic research. Specific Use and Management Information Money from the award of Grants and Contracts is dedicated solely to the specific purpose approved by the organization which provided the funds, based on a proposal from a single responsible person, called a Principal Investigator (PI). The granting agency usually requires reports both about the success of the funded activity and about expenditures. The funds will be available only for a specified period of time; all funds not expended are normally returned to the agency. Grants and contracts are not only a general FUND type grouping, but each separate grant or contract is also a unique FUND. Money from a specific grant cannot be mixed with any other grant or FUND type. Overhead Charge It is typical for an overhead charge to be levied on grants and contracts. Request Proposals typically include two parts: (a) direct cost budget describing the actual research activity, and (b) a calculation of the indirect cost budget, using the overhead percentage rate allowed to be charged by the campus. Typically, the overhead rate on state agency funds, money from Foundations, and from industry is 10%. The overhead rate on federal agency grants is a campus rate negotiated every two years with a lead federal agency. The Vice Chancellor for Research makes all decisions on exceptions to these rate charges. On the Amherst campus, this indirect cost budget, once collected, becomes its own FUND type, and is called Research Trust Funds (see below). It is typical for an overhead charge to be levied on grants and contracts. Request Proposals typically include two parts:
Procedure for Obtaining Grants The grant process on the Amherst campus is supported by two offices in the Research and Economic Development Executive Area. The Research Affairs Office supports faculty and others seeking grant source information and technical help, making available on the web a detailed instruction manual for general use. The Office of Grants and Contracts Administration (OGCA) (http://www.umass.edu/research/ogca/) is the office which handles the actual proposal and pre-award procedure for the campus. The official internal processing form (IPF) can be obtained from this Office, along with other procedural information. Once an award is made, the campus Controller’s Office staff handle the creation of grant accounts and approval of expenditures, as well as the official final financial reports to granting agencies. Faculty members who obtain grants should consult with their local department administrators and support staff about any local grant support resources or local procedures required as part of the proposal process, including obtaining signatures on any forms.
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