cost share angela horton and jean benefiel. wake forest baptist medical center what is cost share?...
TRANSCRIPT
![Page 1: Cost Share Angela Horton and Jean Benefiel. Wake Forest Baptist Medical Center What is Cost Share? Specific portion of project costs related to sponsored](https://reader030.vdocument.in/reader030/viewer/2022032703/56649f525503460f94c765ef/html5/thumbnails/1.jpg)
Cost ShareAngela Horton and Jean Benefiel
![Page 2: Cost Share Angela Horton and Jean Benefiel. Wake Forest Baptist Medical Center What is Cost Share? Specific portion of project costs related to sponsored](https://reader030.vdocument.in/reader030/viewer/2022032703/56649f525503460f94c765ef/html5/thumbnails/2.jpg)
Wake Forest Baptist Medical Center
What is Cost Share?
• Specific portion of project costs related to sponsored programs that are not provided by the sponsor
• Typically direct costs that would otherwise be charged to the grant
• In rare instances, can also be F&A costs (requires Dean’s office approval)
![Page 3: Cost Share Angela Horton and Jean Benefiel. Wake Forest Baptist Medical Center What is Cost Share? Specific portion of project costs related to sponsored](https://reader030.vdocument.in/reader030/viewer/2022032703/56649f525503460f94c765ef/html5/thumbnails/3.jpg)
Wake Forest Baptist Medical Center
When to Cost Share?
• NEVER!
• Or, when REQUIRED by sponsor
![Page 4: Cost Share Angela Horton and Jean Benefiel. Wake Forest Baptist Medical Center What is Cost Share? Specific portion of project costs related to sponsored](https://reader030.vdocument.in/reader030/viewer/2022032703/56649f525503460f94c765ef/html5/thumbnails/4.jpg)
Wake Forest Baptist Medical Center
Types of Cost Share
• Mandatory
• Costs required by terms of award or by federal statue & WFUHS must contribute in order to get award
• Voluntary Committed
• Costs identified within the proposal, but not requested from the sponsor
• Voluntary Uncommitted
• Cost not funded by sponsor that was not identified in proposal nor required by sponsor
• Not tracked
![Page 5: Cost Share Angela Horton and Jean Benefiel. Wake Forest Baptist Medical Center What is Cost Share? Specific portion of project costs related to sponsored](https://reader030.vdocument.in/reader030/viewer/2022032703/56649f525503460f94c765ef/html5/thumbnails/5.jpg)
Wake Forest Baptist Medical Center
Allowable Costs
• Allowed on Award = Allowed for Cost Share
• Verifiable
• Not charged to another award
• Necessary to accomplish project objectives
• Allowable under cost principles
• Budgeted, if required
![Page 6: Cost Share Angela Horton and Jean Benefiel. Wake Forest Baptist Medical Center What is Cost Share? Specific portion of project costs related to sponsored](https://reader030.vdocument.in/reader030/viewer/2022032703/56649f525503460f94c765ef/html5/thumbnails/6.jpg)
Wake Forest Baptist Medical Center
Unallowable Costs
• Funded by another award
• Included in F&A Rate
• Building/equipment depreciation
• Utilities
• Department administration charges
• Double counting
• Costs can only be cost shared on one project
• Expenses related to two or more projects must be pro-rated
• Costs outside the project period
![Page 7: Cost Share Angela Horton and Jean Benefiel. Wake Forest Baptist Medical Center What is Cost Share? Specific portion of project costs related to sponsored](https://reader030.vdocument.in/reader030/viewer/2022032703/56649f525503460f94c765ef/html5/thumbnails/7.jpg)
Wake Forest Baptist Medical Center
Unallowable Costs (cont.)
• Costs not related to award objectives
• Costs not allowable under OMB Circular A-21
• Alcohol, entertainment, advertising, memberships, etc.
• Salary in Excess of Regulatory Salary Cap
![Page 8: Cost Share Angela Horton and Jean Benefiel. Wake Forest Baptist Medical Center What is Cost Share? Specific portion of project costs related to sponsored](https://reader030.vdocument.in/reader030/viewer/2022032703/56649f525503460f94c765ef/html5/thumbnails/8.jpg)
Wake Forest Baptist Medical Center
Documenting Cost Share
• Cost Share Form
• http://brsa.wakehealth.edu/forms/cname/sponsored%20programs
• Complete with proposal
• Must supply unrestricted chart field that will be charged
• If salary is cost shared, faculty must properly certify effort to project chart field (not cost share chart field)
![Page 9: Cost Share Angela Horton and Jean Benefiel. Wake Forest Baptist Medical Center What is Cost Share? Specific portion of project costs related to sponsored](https://reader030.vdocument.in/reader030/viewer/2022032703/56649f525503460f94c765ef/html5/thumbnails/9.jpg)
Wake Forest Baptist Medical Center
Cost Share Impact - Institution
• Cost Sharing has a detrimental impact on F&A rate calculation
• Increases Organized Research Base which leads to a lower approved F&A rate and lower F&A reimbursement
![Page 10: Cost Share Angela Horton and Jean Benefiel. Wake Forest Baptist Medical Center What is Cost Share? Specific portion of project costs related to sponsored](https://reader030.vdocument.in/reader030/viewer/2022032703/56649f525503460f94c765ef/html5/thumbnails/10.jpg)
Wake Forest Baptist Medical Center
Cost Share Impact - Departments
• Documentation
• Department responsibility
• Expense tracking
• Uses department unrestricted funds
• Record cost share to unrestricted chart field indicated at approval
• Effort Reporting – variance explanations
• Cost sharing salary will create an effort variance that requires explanation either via comment box or post certification follow up
![Page 11: Cost Share Angela Horton and Jean Benefiel. Wake Forest Baptist Medical Center What is Cost Share? Specific portion of project costs related to sponsored](https://reader030.vdocument.in/reader030/viewer/2022032703/56649f525503460f94c765ef/html5/thumbnails/11.jpg)
Wake Forest Baptist Medical Center
Cost Share Impact – Departments
• Increases staffing efforts
• Loss of F&A or absorb more indirect costs
• Possible covering of expense if total commitment not achieved
![Page 12: Cost Share Angela Horton and Jean Benefiel. Wake Forest Baptist Medical Center What is Cost Share? Specific portion of project costs related to sponsored](https://reader030.vdocument.in/reader030/viewer/2022032703/56649f525503460f94c765ef/html5/thumbnails/12.jpg)
Wake Forest Baptist Medical Center
Questions?
Contact Info:
Angela Horton: 716-1433
Jean Benefiel: 716-8732