Budgets

Budgets must be prepared in accordance with a program’s specific guidelines. Conditions vary from program to program, so please make sure to review all information released by the sponsor concerning budgets.

Also see the University’s Guide to Financial Management for further information on how to construct a budget.

For more information, scroll through this webpage or click on one of the following options:

Salaries & Benefits

The hiring of employees is subject to preparation of a written job description, job classification, salary ranges and the university’s internal promotional opportunity policy requirements. While an employee is with the university, there are a number of policies that govern his or her treatment. Award-holders, as supervisors, are responsible for being aware of and following these policies. The hiring of award-supported staff is also of concern to the administrative unit which also has fiduciary responsibility in ensuring that there is sufficient funding to pay award-supported staff.

Termination of employees is subject to policy and legal considerations and consultation with the Human Resources department is required. Your departmental Business Officer or Human Resources can provide further information.

The full employer cost of fringe benefits will be charged to the award. The current rate as a percentage of salary for appointed staff and non-appointed staff can be found here.

Indirect Costs

Faculties depend on receiving overhead from research awards to pay for the various hidden indirect costs of doing research. Under the University’s budget model, all revenue flows to the faculty and all costs associated with research are paid at the faculty level. If overhead costs are not recouped, a faculty’s ability to support research across the board is hindered.

Indirect costs must be included in budget requests to external sponsors. These costs are generally calculated as an overhead rate applied to all direct costs or to a specific category of direct costs.

The University practice is to request an overhead provision of

  • 40% of total direct costs on research contracts
  • 20% of total direct costs on corporate/industrial consortia research awards
  • 10% of total direct costs on research awards from foundations, unless the sponsoring agency has a prescribed rate(s)

Typical indirect costs include building space and utilities; maintenance and upgrade of research space; maintenance and upgrade of library facilities; central technical support of labs, offices, core and other facilities; management and administration of research; management and administration of research finances; management and administration of regulatory requirements and research compliance (i.e. research ethics, biohazards certification, animal care etc.); hazardous waste disposal; radiation safety; occupational safety; campus security; liability insurance.

More information on indirect costs can be found in the University’s Policy on Research Agreements and the Recovery of Indirect Costs of Research. Information can also be found in the University’s Guide to Financial Management.

Travel

The sponsoring agency may have guidelines or limits with respect to travel costs. Refer to Travel and Other Reimbursable Expenses for University regulations for eligible and ineligible travel costs.

Construction

If your budget involves construction or renovations, then you will need the proper approvals; firstly for the use of the space, and secondly, cost estimates. Normally your Chair, Dean, or space Planning office would approve the use of space. For estimates please contact the following:

University of Toronto at Mississauga (UTM) Paull Goldsmith
905-828-5250
University of Toronto at Scarborough (UTSC) Larry Farewell
416-287-7587
University of Toronto St. George campus [Projects over $50,000] Julian Binks
416-978-5533
University of Toronto St. George campus [Projects under $50,000] Speak directly with the property manager for the building which is affected by the construction

The building manager may need to provide you with a one-page capital project summary/overview that is included in the budget section of your application. This overview includes a short written description of the construction or major renovation project, gives the location and amount of space to be created and/or renovated, total cost and the following cost breakdown:

  • Site development and planning
  • Construction cost (may include escalation costs)
  • Architectural and other professional fees
  • Soft costs (permits, insurance, misc.)
  • Contingency
  • Cost per net assignable square metre.