London Institute for Mathematical Sciences
LIMS' standard indirect costs rate is 60%, that is, 5/8 of research grant income is for direct costs, and 3/8 is for indirect costs. ("60%" means that for every £1 spent on direct costs, £0.60 is spent on indirect costs: 0.60/1.60 = 3/8.) This rate is less than the maximum rate approved by the Board of Trustees and is applicable from 1 January 2013. It is for use on grants, contracts and other agreements with research sponsors. Note that indirect costs are sometimes called overheads, or facilities and administration (F&A).
U.S. Department of Defense agencies allow a maximum indirect costs rate of 53.85% for the prime institute (the lead institute that receives the money from the U.S.). This bound does not apply to subprime institutes (an institute which is subcontracted by the prime, if any); thus when LIMS is a subprime recipient, it may use the usual 60% rate.
EU Horizon 2020 grants make use of a different model. The overhead rate is 25%, but other costs may be included in direct costs, such as senior scientists' salary, administration and dissemination.
LIMS has two levels of senior scientists:
Fellows. Fellows are the most senior members of LIMS. They can be full time, or part time in conjunction with another academic appointment elsewhere. Because LIMS is still young, at present all of LIMS Fellows have joint appointments.
Visiting scientists. Visiting scientists spend anywhere from a few days to a few months at LIMS per year.
LIMS has three levels of junior scientists, shown below. The salaries are standard LIMS salaries, though supervisors may deviate from these numbers if they see fit. The salary charged to grants (and to be used in grant applications) is 10% higher to cover NI and PAYE.
|Name||Short name||Salary/month||Salary/month charged to grants|
|Postdoctoral Research Assistant||Postdoc||£3,000||£3,300|
|Graduate Research Fellow||GRF||£2,250||£2,475|
|Summer Undergraduate Research Fellow||SURF||£1,500||£1,650|
Postdoc. A Postdoctoral Research Assistant position can last from several months to two or three years.
GRF. A Graduate Research Fellowship is an opportunity for a current or soon-to-be PhD candidate to spend time at LIMS doing research under the guidance of one of LIMS' scientists. A GRF can last from one to several months. It is usually paid 3/4 of the postdoc rate.
SURF. Modelled on Caltech's SURF program, a Summer Undergraduate Research Fellowship gives undergraduates a chance to do research during the summer under the guidance of one of LIMS' scientists. A SURF typically lasts for eight to 12 weeks. It is usually paid 1/2 of the postdoc rate.
|Fringe benefits||10% of gross salary|
|EU (FP7) grants|
|Is LIMS an SME?||No|
The ground floor seminar room can be hired by scientists associated with LIMS for £600/day or £400 for a half day. It seats 50 people and has a large blackboard, video projector and sound system. Catering can be arranged for an additional fee.
Introduction. To simplify travel reimbursement, LIMS uses so-called per diem reimbursement of expenses incurred on trips. Per diem pays a fixed amount per day for lodging, meals and incidental expenses, independent of the amount actually spent. There is no need to keep receipts. Travel costs, such as flights and trains, are reimbursed at their actual amount.
Per diem calculation. The per diem rate (amount paid per day) varies from country to country and can be found here. Let n be the number of nights away, and r the relevant per diem rate. Then the total per diem is (n + 1/2) r. Note that a one-day trip (0 nights) incurs 1/2 r. LIMS currently uses the following fixed exchange rates: $1.6 = £1 and €1.2 = £1.
Travel calculation. This is just the sum of the flights, trains and so on spent on getting to the destination. Local travel within the desitination, such as taxis, is part of the per diem and not included here. If the travel is mix of work and leisure, the following rule applies: Consider a trip from destinations A to B to C and back to A, where B is for work but C for leisure. Then the travel to be reimbursed is 2/3 of the total (2 legs out of 3). This generalizes in the natural way to (n-1)/n.
Example request for reimbursement
|Date||1 Jan 2014 - 4 Jan 2014|
|Purpose||Discuss work with Prof. John Smith|
|Travel||Train: £50 [attach pdfs or pictures of any travel receipts]|
|Requested||£855 [£50 + 3.5 × €276 = £50 + 3.5 × £230 = £855]|