Facilities & Administrative Costs and Recoveries

Transcript:Facilities & Administrative Costs and Recoveries:
Facilities & Administrative Costs and Recoveries Facilities & Administrative (F&A) Costs and Recoveries …… F&A costs are actual expenses that reconcile to the UI audited Financial Statements. …… F&A recoveries are generated to reimburse the UI for a portion of F&A costs incurred. ……. Effort is made by Central Administration to return the recoveries to where the expense occurred given actual F&A costs exceed F&A recoveries. F&A Negotiation Process A formal F&A rate is prepared by the UI and proposed every 4 years. Proposal prepared in accordance with cost principles defined in Uniform Guidance (formerly OMB Circular A-21) Direct Negotiation with Federal Govt. Feds review documentation; then perform a site visit Walk space; interview PI’s, staff & students FY 2025 is the base year for next rate proposal The approved F&A rate is less than actual F&A rate. University Financial Statements Operations and Maintenance (F) Building Depreciation (F) Equipment Depreciation (F) General Administration (A) Departmental Administration (A) Sponsored Project Administration (A) Student Service Administration (A) Interest (F) Library (F) Instruction and Dept Research (Inst) ORGANIZED RESEARCH (OR) Other Sponsored Activity (OSA) Other Institutional Activity (OIA) Exclusions F&A Cost Groups Direct Cost Groups (Bases) F&A Rate Calculation Operations and Maintenance Building Depreciation Equipment Depreciation General Administration Departmental Administration Sponsored Project Administration Student Service Administration Interest Library Inst OR OSA OIA F&A Cost Groups Denominator Numerator FY2021F&A Rate by Component * Amounts in millions FY2024 F&A Recoveries versus F&A Overhead Expenditures F&A Recoveries Generated by Each College – FY2024 Distribution of Recoveries Effort is made by Central Administration to return the recoveries to where the expense occurred. FY24 = $108.8M Distribution General Education Fund = $71.3M Research Facility Funds = $12.2M UIHC = $4.8M TTI Plant Fund = $11.2M Oakdale Campus = $0.7M Clinical Trials = $5.7M VPR = $2.7 Other = $0.2M Distribution of Recoveries Every $ of recovery is distributed the same in FY24: General Education Fund = 69.22% Research Facility Funds = 11.99% UIHC = 4.78% TTI Plant Fund = 10.93% Oakdale Campus = 0.66% Hygienic Lab = 0.02% VPR = 2.40% Calculation of UIHC Distribution % Questions?