Full Economic Costing
We are obliged to cost all research projects according to ‘full Economic Costing’, even if the sponsor does not necessarily fund research on this basis. This means that all costs for running the project are taken into account, including the maintenance of UEL buildings, the cost of lighting and heating etc, and also the administrative aspects of supporting the research – for example, personnel and payroll. There is a distinction however, between the cost of the research, and the price that we provide to the sponsor. This is usually determined by the sponsor’s guidelines for the funding they provide, and will be checked thoroughly by Financial Services.
Colleagues should be aware that support obtained without going through the relevant stages outlined here may be turned down by the Director of Financial Services. The most likely reason for such a decision is that the fEC stage has not been completed and to accept the funding would impose too high an economic burden on our University community.
