This week is fEC week on the Blog! Each day we have been explaining a different element of fEC as a quick reference guide to help you prepare the budgets for your research proposals. Today is the last in the series and the focus is on Exceptional costs.
See Friday’s blog post (Introduction to full economic costing) for an explanation of what fEC actually is and why we use it.
Step 5 – Exceptional costs
For Research Council applications in particular, certain costs will be classified as Exceptional and will be subject to a different funding arrangement to the rest of the costs on the project. These are:
- Postgraduate student fees and stipends
- Equipment costing in excess of £10k
- Large survey fees
Research Councils will usually pay 100% of the fEC of these exceptional costs, with the exception of equipment costing in excess of £10k for which the Research Councils will pay approximately 50-100% of the fEC depending on the total cost of the equipment. For further information, see the RCUK statement on the Changes to Requests for Equipment from 1st May 2011.
Tuition fee and stipend levels for Research Council funded students can be found on the RCUK webpages.
This is the final installment of this week’s step by step guide to fEC. The other steps can be accessed here: