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Institutional Base Salary: Difference between revisions
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The federal government requires recipients of federal funding to establish institutional policy that documents the budgeting and expensing of salaries on sponsored projects. Specifically, government regulatory costing principles such as those contained in the [http://www.whitehouse.gov/omb/circulars_a021_2004/ Office of Management Budget (OMB) Circular A-21], “Cost Principles for Educational Institutions,” and those required by the [http://www.whitehouse.gov/omb/procurement_casb/ Cost Accounting Standards Board] require that sponsored project costs, such as salaries, be treated consistently. In addition, institutions with practice plans must meet specific NIH criteria to combine practice plan and university salary to form the IBS. | The federal government requires recipients of federal funding to establish institutional policy that documents the budgeting and expensing of salaries on sponsored projects. Specifically, government regulatory costing principles such as those contained in the [http://www.whitehouse.gov/omb/circulars_a021_2004/ Office of Management Budget (OMB) Circular A-21], “Cost Principles for Educational Institutions,” and those required by the [http://www.whitehouse.gov/omb/procurement_casb/ Cost Accounting Standards Board] require that sponsored project costs, such as salaries, be treated consistently. In addition, institutions with practice plans must meet specific NIH criteria to combine practice plan and university salary to form the IBS. | ||
== Components of Institutional Base Salary == | == Components of Institutional Base Salary == | ||
Institutional Base Salary (IBS) - the annual compensation for an employee’s appointment, whether for research, teaching, public service, administration or other activities. IBS wage codes are defined in [http://wiki.unmc.edu/images/b/b6/WageCodeTypes.pdf Wage Code Types]Because IBS excludes some wage code types, IBS may be less than the total institutional salary. | Institutional Base Salary (IBS) - the annual compensation for an employee’s appointment, whether for research, teaching, public service, administration or other activities. IBS wage codes are defined in [http://wiki.unmc.edu/images/b/b6/WageCodeTypes.pdf Wage Code Types]. Because IBS excludes some wage code types, IBS may be less than the total institutional salary. | ||
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