Budgeting for Fixed Price Contracts
INCOMING FUNDING:Funds paid by a sponsor to the University
The University of Oregon (UO) sometimes receives contracts from sponsors and sometimes sends contracts to sponsors for work to be performed by the UO in which the UO will receive incoming funding (payments) from a sponsor.
Budget and Payment Schedule for a Fixed Price Contract:
EPCS Records for Fixed Price Contracts:
Under the "Budget" Tab, when under the "Awards" Tab, the Award Type: "Fixed Price Contract" is selected the Budget Tab will display the words, "FIXED PRICE CONTRACT selected under the Award tab." appear. The EPCS record displays a Fixed Price Contract Budget Template under the Budget tab of the EPCS record. The Fixed Price Contract Budget Template includes a worksheet tab displaying an Internal Budget which is used for the purpose of internally estimating the total cost of the Fixed Price Contract.
The Internal Budget is for internal use and should not be submitted to the sponsor at the proposal stage and should not appear in the Fixed Price Contract during correspondence with the sponsor.
There is a separate tab at the bottom of the Excel budget worksheet on the Fixed Price Contract Budget Template which reads "FIXED PRICE FORMAT FOR SPONSOR." If the sponsor requests a summary level budget, this FIXED PRICE summary level format can be used for sending to the sponsor.
If the sponsor requests or requires a budget at the proposal stage, the budget submitted to the sponsor should be displayed in the Statement of Work in a format that is summary level which does not commit or restrict detailed line-by-line budget items such as detailed line-by-line items for supplies and services, or individual salary and fringe benefit amounts and percentages of effort for individual project personnel.
Example Payment Schedule:
677 East 12th Ave, Suite 500
Eugene, OR 97401
VOICE (541) 346-5131
FAX (541) 346-5138 *
Sponsored Project Services
5219 University of Oregon
Eugene, OR 97403-5219
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