How are costs categorised under fEC?
There are 4 cost categories: Directly Incurred Directly Allocated Indirect Exceptions All costs claimed will have to fall into one of these categories. Why is fEC important to the University? It is a mandatory Government exercise, and its introduction within the University is vital if we are to access Research Council funding. What will the Research Councils pay? 80% of the full economic cost. (This is expected to rise to 100% from 2010). In the case of equipment the Research Councils will pay 80% of the first 50,000, and 100% of the excess above 50,000. (These figures relate to the overall purchase figure for equipment, not per individual item). Why will Research Councils only pay a part of the full economic cost? The Government has asked RCs to maintain the current volume of research they support. Although the Government are providing the RCs with extra money because of fEC, initially they will only be able to pay a proportion of fEC. The figure of 80% of fEC was established, as this
