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Accurate budgets are very important for project development. It is essential that the direct and indirect costs are calculated correctly. To help with this process refer to the Project Resource and Budget Checklist as well as the Budget Calculator spreadsheet.
Refer to the following information when preparing the budget. OCS staff will help with this process if required.
Direct costs
Direct costs are items such as:
- academic staff professional fees
- equipment purchase and maintenance
- computing support
- consumables
- travel and accommodation
- administrative and research assistance
Labour costs are based on a minimum hourly fee (see Budget Calculator). Contact OCS to ensure correct minimum hourly rates for the staff involved are used for the project.
Please note that these are minimum charge out rates for staff. GST and other indirect costs have to be added. Actual rates charged may be higher, but should not be lower without serious consideration by the applicant and authorising officer, and with advice from OCS. Refer to salary scales on the HR website to assist in the determination of an appropriate rate. On costs will also need to be added to this rate.
Indirect costs
Indirect costs charge is made to cover costs incurred by the operational areas of those undertaking Outside Work.
The indirect costs charge is set by each Faculty as a percentage of total costs — at least 25% for most consultancies. To calculate the indirect costs charges use the Budget Calculator. For commercial research, the indirect costs charge is based on at least 16% of the total costs. GST is then added to the total costs to determine the contract price.
The Executive Dean determines how indirect costs funds are disbursed within the Faculty or Division.
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