Planning and monitoring your program budget helps avoid unanticipated expenses during implementation. In addition, the program budget should be reviewed regularly to identify areas that may need your attention and revised accordingly as the financial situation of your program changes.
The program administrator should take into consideration the additional complexities and costs associated with running an international project, including:
- Visiting student fees, such as processing fee, registration fee, insurance, and student activities fees. These cannot be paid by sponsored accounts without written permission from the sponsor.
- Technology, cell phone, per diem, travel, visa and immigration, and cultural training expenses.
- Business class travel is generally expected for MIT faculty and staff, with written permission from the sponsor.
- Mobility cost and employee benefits for long-term international assignments.
- MIT board/governance participation costs.
- Incentives to encourage participation of MIT departments, labs, centers, and personnel.
- Environment, health and safety planning.
- Currency fluctuation (See Step 1 of the URL).
- Legal counsel, accounting, auditing, or tax advisory services.
- Compliance costs, such as business registration, tax filings, withholding taxes, and local taxes.
- Indirect costs for non-research activities.