Research Operations Office Bulletin 44
Published on 20 July 2012
As you are aware, the Research Councils are making efficiency savings by invoicing the University in bulk (the ‘top slice’ invoices) for existing awards with funding remaining as of July last year. The top slice invoices claw back indexation on both direct costs and non-direct costs and also a percentage of the indirect cost element of non-direct costs (the Efficiency Factor reduction).
Postings for Year 1 (July 2011 to March 2012) have been completed. Final estimated postings for Years 2 to 4 (April to March 12-13, 13-14 and 14-15) have now been made and can be seen on the CUFS accounts affected.
As for Year 1, postings are made to Exceptional Costs at the task level on the Grants module of CUFS, thereby reducing the available funds on the task. The top slice will be reclaimed from the Research Councils through the FES.
The top slice postings are based on estimated amounts provided by RCUK on a grant by grant basis. Any discrepancy between estimated amounts and actual top slices invoices will be addressed when the invoices arrive. The next invoice is expected in February 2013. The element of the top slice posted to individual awards is the indexation reduction relating to direct costs. The remaining portion of the top slice and the Efficiency Factor reduction will be posted to Schools and the Chest.
Finally, note that whilst new awards are not impacted by indexation top slicing (indexation is set at 0% this year, 0.81% for the next two years), the Efficiency Factor reduction remains in effect and indirect costs will be reduced at award, removing the need for future top slicing in most cases (from 6 June when revised award letters were issued by RCUK).
If you have any questions, please contact your Research Support Administrator/Advisor in the first instance.
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