Fringe Benefits

Parent Program

Description

Fringe benefits are no longer pooled, but budgeted in departments to achieve better visibility into this cost and ultimately, develop a fringe benefit average rate. The new system will enable more sound budgeting of personnel expenses.

Intended Outcomes

  • More accurate administrative accounting of fringe benefits, forcing expenses to be consistently booked in appropriate budgets
  • Average fringe benefit rate improves budgeting decision-making on HR decisions.
  • Higher visibility of unrestricted funds spent on all personnel lines, including restricted funded positions

Progress

Project Team

Sponsors

AMP Project Manager

UMD College of Agriculture and Natural Resources

UMD Office of the Senior Vice President and Provost