All research and services rendered projects have to be budgeted using full economic costing (FEC) principles.
We have a number of Excel spreadsheets to calculate the FEC budget depending on the type of funder. If you have not used the spreadsheets before, please contact your School for advice on how to complete them.
When putting together a budget, keep in mind the following:
- You need to budget for all the expenditure needed to achieve the objectives of the research.
- You cannot include expenditure to be incurred after the grant period unless explicitly allowed by the funder.
- Make sure you have read the funder guidelines on allowable expenditure. In cases where some expenditure is essential but not allowed, you may be applying for the wrong grant.
- You will have to justify your costs. For example, a new computer is more likely to be a justifiable cost if it has specific technical features required for the project. A standard computer for a new member of staff is less justifiable and sometimes even an ineligible cost.
All staff costing should be done using Siriusweb. You can register to use Siriusweb but you can access the site only from within City's network, or via VPN when working from home. The Help section can help you get started on the system.
All staff costing on Siriusweb is based on the FEC principle for standard working hours:1 year full-time corresponds to 1,650 hrs per year over 44 weeks at 5 days per week and 7.5 hours per day.
When submitting your application for internal approval, you should attach print-outs of the output from Siriusweb.
Not all funders will pay 100% FEC. The 'Income' column in the FEC spreadsheets show the percentage of funding that can be expected.
- Research Councils, TSB and NHS grants normally pay 80%FEC.
- EC grants and grants from other overseas funders will operate their own indirect cost system.
- Charity grants do generally not pay estate and indirect costs, however directly incurred cost has to be funded at 100%.
- All applications for tender and applications for industrial funding should cover a minimum of 100% FEC.