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Checklist for Preparing an Indirect Cost Rate Proposal The following is a list of materials that, unless otherwise directed by NSF, should be submitted by an awardee organization as part of its indirect

How to fill out indirect cost proposal checklist

How to fill out an indirect cost rate proposal?

1. Gather all necessary financial information: Collect all relevant financial data, including operating costs, direct costs, and indirect costs for the specified time period. Ensure that all information is accurate and up-to-date.
2. Identify the cost pools: Categorize your expenses into different cost pools based on their nature and allocation. Common cost pools include administration, facilities, and salaries.
3. Allocate costs to cost objectives: Assign the costs from each cost pool to the appropriate cost objective. Cost objectives can include specific projects, contracts, grants, or departments within your organization.
4. Calculate the indirect cost rate: Divide the total indirect costs by the total direct costs and multiply by 100 to calculate the indirect cost rate. This rate represents the percentage of indirect costs that should be allocated to each cost objective.
5. Prepare the proposal: Create a proposal document that includes all the necessary information, such as the calculated indirect cost rate, supporting financial data, and a detailed breakdown of the cost pools and their allocations. Make sure to follow any specific guidelines or templates provided by the funding agency or organization requesting the proposal.
6. Review and validate the proposal: Double-check all calculations, data, and supporting documents to ensure accuracy and consistency. Seek feedback or assistance from financial experts or colleagues if needed.
7. Submit the proposal: Once the proposal is complete and validated, submit it according to the guidelines and instructions provided by the funding agency or organization.

Who needs an indirect cost rate proposal?

An indirect cost rate proposal is typically required by organizations or entities that receive funding from government agencies, foundations, or other funding sources. This can include non-profit organizations, research institutions, educational institutions, and government contractors. The purpose of the indirect cost rate proposal is to determine the appropriate allocation of indirect costs to specific projects or grants and ensure that these costs are adequately accounted for in funding requests.

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What is indirect cost rate proposal?

Indirect cost rate proposal is a submission made by a company or organization to establish the rate at which indirect costs will be reimbursed when working on government contracts.

Who is required to file indirect cost rate proposal?

Companies or organizations working on government contracts that include indirect costs are required to file an indirect cost rate proposal.

How to fill out indirect cost rate proposal?

To fill out an indirect cost rate proposal, organizations need to gather detailed information about their indirect costs and follow the specific guidelines provided by the government agency overseeing the contract.

What is the purpose of indirect cost rate proposal?

The purpose of an indirect cost rate proposal is to determine a fair and reasonable rate at which indirect costs will be reimbursed so that organizations can accurately account for all costs incurred during government contract work.

What information must be reported on indirect cost rate proposal?

Indirect cost rate proposals typically include detailed breakdowns of indirect costs, cost allocation methods, and supporting documentation to justify the proposed rate.