PREPARING BUDGETS
A detailed budget should be prepared for each research contract that has financial implications. Some funding agencies are very prescriptive regarding which items will be funded and can be included in the budget. It is important to ensure that the budget is complete and includes all possible costs. You are kindly requested to contact the project accountants during the proposal phase for assistance with the preparation of a budget.
PURPOSE OF THE FULL COST POLICY
The purpose of the policy is to set a standard basis for calculating full costs related to research and research-related contracts at SU.
BACKGROUND
Under the new Intellectual Property Rights from Publicly Financed Research and Development Act, No. 51 of 2008, any research funded via private funding on a full cost basis, will usually not be subjected to this legislation (refer clause 15.4 of the relevant Act). It is therefore in the interest of SU and its research partners to ensure that the costing of all research and research- related contracts take place on a full cost basis where applicable.
