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General Funds: Banking/Buyouts
Summary
Adequate salary support from grants tends to be cyclic. The KSAS Banking system
allows faculty members to bank funds indefinitely with only a 5% administrative
fee charged with each banking transaction to defray the real costs associated
with tracking the myriad of accounts involved over the long term.
Method of Banking
A faculty member wishing to bank funds from an existing grant will submit a
formal request in writing to the Associate Dean for Research in KSAS stating the
dollar amount of salary and fringe benefits to be banked, the period of time of the
banking and the sponsored account number where the salary will be charged. (see
Tools)
The Research Dean will review the programmatic implication of the request, and if
there are no procedural difficulties, forward the request to the Business Office of
KSAS for implementation. The amount of money to be banked will immediately be charged
to the faculty member's grant(s) by their administrator. The amount saved in academic
base salary and benefits from the KSAS Salary Budget will then be set aside in a
separate account for future use by the faculty member. While the primary intent of the
KSAS Bank is for faculty members to use these funds for future summer salary relief,
these funds can be used for any situations that arise consistent with the research
mission of the faculty member, their Department, and The Johns Hopkins University
(e.g. support for graduate students, travel, equipment, etc.).
Other Considerations
If banking involves funds from a grant from which the University
normally collects indirect costs, the grant will be charged the
indirect costs only at the time of banking.
If the faculty member uses banked funds for salary support, fringe
benefits will be charged.
There will be no limit on the duration of time a faculty member
can bank funds. If a faculty member leaves the University with banked
funds remaining, the funds will remit to the Department.
Banking can only be done for 50% of the Academic Base Salary (ABS),
preserving the remaining 50% for teaching responsibilities.
Once approval is obtained for Banking, the KSAS Business Office
will send a signed form with the banked amount to the department.
(See Tools.)
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General Funds: Buyouts
Policy on Teaching Buyouts and Teaching Loads
Background
Under normal circumstances, every faculty member is expected to carry a full teaching
load, appropriately defined, each semester that he or she is in residence. This is
crucial not only to meet the need for instruction of our undergraduate and graduate
students, but also to preserve the integrity of the academic enterprise in the Krieger School.
Because of variations in the nature of instruction in the different disciplines,
the administrative complexity of the research activity expected of faculty members,
and peer competitiveness, the definition of a full teaching load inevitably will vary
somewhat by department. On the other hand, equity among our faculty is also an important
consideration, one that would argue against too much variation in formal teaching loads
across the Krieger School.
Our approach to balancing these priorities is to engage in a process that includes
consultation with each department about its current classroom teaching policies, a survey
of teaching loads in departments at peer institutions, and careful comparisons of teaching
practices in the departments in the School. The established teaching load determined for
each department is sent to the appropriate Chair.
It is to be stressed that course buyouts may be granted only for particular reasons
and on a temporary basis (usually no more than one academic year), and are under no
circumstances to become routine. The Chair has the discretion to grant or deny any such
request, and must take into consideration not only the desires of the faculty member but
the needs of the department for instruction by full time faculty. Any request to buy out
of teaching also requires the approval of the Dean.
Application
The course buyout rate will be based on a formula, which assigns 45% of a faculty
member’s Academic Base Salary to his or her classroom teaching. This is to take into
account formally that portion of a faculty member’s effort that is devoted to University
and departmental service (5%).
EXAMPLE:
Teaching load: 4 courses per year
Academic Base Salary: $50,000
Buyout: 1 course
(45% x $50,000) x ¼ = $5,625
Some members of the faculty may wish to combine a full or partial buyout of teaching
with salary banking. In a given semester, a full time faculty member may use external
research funds to pay no more than a total of 50% of his or her Academic Base Salary.
Faculty who wish to use external support for a higher fraction of Academic Base Salary
may instead request a period of unpaid leave.
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