Overall, this methodology for calculating and charging fringe benefits is considered a best practice at leading research institutions. Several large research universities have already adopted this practice including, Georgia Institute of Technology, State University of New York, Emory University, and University of Florida. Additionally many universities are now switching to this methodology including, Arizona State University, University of California Davis, Auburn University, Vanderbilt University, and Clemson University.
This new fringe methodology will facilitate planning, budgeting, and other tasks in the ongoing operations of the campus. It will simplify and improve the preparation, administration, and monitoring of budgets and accounting for fringe benefit expenditures. Provide for consistent accumulation and allocation of fringe benefits expenses to all functional activities as required by Cost Accounting Standards 501 and 502. Also, allow the university the opportunity to recover fringe benefit costs from all funding sources.
Effective January 1, 2012 per the Board of Regents, benefits eligibility for all benefits (excluding retirement and leave accruals) change from 20 to 30 hours (for faculty .38 FTE to .56 FTE and for staff .50 FTE to .75 FTE). See USG/BOR announcement. See GSU announcement.
