PPT-Understanding Indirect Costs

REC Infrastructure Retreat April 7 2015 Nancy L Wilkinson Office of the Dean for Research IFAS Understanding Indirect Costs Todays Agenda Definition Key Concepts Facilities amp Administrative. OMB Circular A-110 (2 CFR Part 215) . 2 CFR Part 230. Appendix A – General Principles. . GPD Indirect Cost Rate Agreement . Chief, . Operational Oversight Division. Joseph E. Baldwin . Project Review: . Office of Acquisition and Logistics Management. Lorraine M. Trexler, Director. Division of Financial Advisory Services. June 30, 2014. For-profit organizations must follow Federal regulations and requirements when expending and accounting for Federal funds. . . WHAT ARE INDIRECT COST RATES????. Indirect Cost Pool-How Deep?. Indirect Cost Base-How Large?. Indirect Cost Rate-How High?. AGENDA. . Who Are We- Indirect Cost Branch. Definitions. Why Indirect Cost Rates Are Needed; Including An Example . Reminders…. Subject:. performs the action of the sentence.. Verb:. is the action of the sentence.. Direct Objects:. . A . direct object. is a noun or pronoun that receives the action of a . transitive action. U.S. Department of Education. Objectives. Overview of Indirect Costs. Key Changes Under the Uniform Guidance. GAN Changes. De Minimis . R. ate. Grant Extensions. Sub-Recipient Rates. Timelines. Time and Effort . Office of Management and Budget (OMB) – Circular A-87. US Department of Education. Delegates authority for rate determination to states. Delegation agreement renews every five years. Authority. 2. Costs of a general nature which are not readily identifiable with the activities of the grant but are incurred for the joint benefit of those activities and other activities or programs of the organization. Guide to Grants Management and Administration. FIC Approved March 2013. Co-Chairs – Tanya Muniz, Dick Butcher. Sub-committee first convened November , 2011. Financial Issues Committee. Background. - . COST ALLOCATION PLAN. Presented by:. . CSS Cost Allocation Plan Requirement. Directive . CCD-15-03. - Cost allocation…plans will be required as part of the . subrecipient’s. submission to a CSS Request for Proposal. Failure to submit plans that meet the . U.S. Department of Education. Objectives. Overview of Indirect Costs. Key Changes Under the Uniform Guidance. GAN Changes. De Minimis . R. ate. Grant Extensions. Sub-Recipient Rates. Timelines. Time and Effort . District . Submissions. Presented by: Dionne Denson, Deputy CFO. Bob Gauspohl, Audits Director. December 3. , 2015. 1. Training Topics. Language of Cost Allocation & Methodologies. Developing the Plan & Submission Requirements. Objectives. Identify types of costs – both direct and indirect. Calculate . salaries and fringe benefits. Identify the requirements for graduate students. Identify the requirements for a collaborator. Direct Costs . +. . Unallowed. Costs. =. Rate %. . Fixed . with Carry-Forward. Indirect Rate Calculation. Indirect Cost Classification Matrix. Classifications: Direct, Excluded, Indirect, or Unallowed. What are Product Costs?. Product costs are costs that are incurred to create a product that is intended for sale to customers. . Product . costs include direct material (DM), direct labor (DL) and manufacturing overhead (MOH).. Branch Chief. Indirect Cost Services Division (ICSD). Interior Business Center (IBC). U.S. Department of Interior (DOI. ). Agenda. General . Principles . Uniform Guidance. Direct, Indirect, Unallowable, Exclusions.