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This document certifies the indirect cost rate proposed by school districts for federal awards, confirming compliance with federal regulations and outlining submission requirements.
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How to fill out certification for indirect cost
How to fill out CERTIFICATION FOR INDIRECT COST RATE
01
Gather all relevant financial documents, including accounting records and previous indirect cost rates.
02
Identify the appropriate period for which the certification applies, typically the most recent fiscal year.
03
Complete the indirect cost rate proposal, ensuring all allowable costs are accurately categorized.
04
Calculate the indirect cost rate by dividing total indirect costs by the total direct costs.
05
Prepare supporting documentation that justifies the calculations used in determining the indirect cost rate.
06
Review the completed certification for accuracy and completeness.
07
Sign and date the certification form, acknowledging that all information is true and correct.
08
Submit the certification to the relevant federal agency or organization as required.
Who needs CERTIFICATION FOR INDIRECT COST RATE?
01
Nonprofit organizations applying for federal grants and contracts.
02
Educational institutions seeking reimbursement for indirect costs.
03
State and local governments managing federal funds.
04
Companies participating in federal research and development programs.
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People Also Ask about
How do you calculate the indirect cost rate?
What is the Average Indirect Cost Rate for Nonprofits? While no two nonprofit organizations will have identical needs, structures, or budgets, an indirect cost rate of between ten and fifteen percent has served as a longstanding rule of thumb.
What is a reasonable indirect cost rate for nonprofits?
On February 7, 2025, NIH issued Notice NOT-OD-25-068 (Notice), which imposes a 15% cap on indirect cost (IDC) recovery for all new NIH grants and, controversially, for existing grants awarded to institutions of higher education (IHEs) moving forward from Feb. 10.
How long does it take to get a nicra?
Be aware the process for establishing a Negotiated Indirect Cost Rate Agreement (NICRA) can take up to six months (180 days) from the time NIFA receives the ICP. Also, NIFA may issue the award, but withhold funds budgeted for indirect costs pending completion of the indirect cost rate negotiation process.
What is the average indirect cost rate for a nonprofit organization?
What is the Average Indirect Cost Rate for Nonprofits? While no two nonprofit organizations will have identical needs, structures, or budgets, an indirect cost rate of between ten and fifteen percent has served as a longstanding rule of thumb.
What is the standard indirect cost rate?
The de minimis rate is a simplified option set at 10% (15% effective for grants awarded on or after October 1, 2024) of modified total direct costs (MTDC). This rate is available to organizations that have never negotiated a federally approved indirect cost rate.
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What is CERTIFICATION FOR INDIRECT COST RATE?
The Certification for Indirect Cost Rate is a document that verifies the indirect cost rates used by an organization in connection with federal awards.
Who is required to file CERTIFICATION FOR INDIRECT COST RATE?
Organizations receiving federal funding are typically required to file the Certification for Indirect Cost Rate, especially if they seek reimbursement for indirect costs.
How to fill out CERTIFICATION FOR INDIRECT COST RATE?
To fill out the Certification for Indirect Cost Rate, organizations must complete the provided forms, ensuring all required financial data is accurate and complete, and submit it with their indirect cost proposal.
What is the purpose of CERTIFICATION FOR INDIRECT COST RATE?
The purpose of the Certification for Indirect Cost Rate is to ensure that the indirect costs charged to federal programs are accurate, allowable, and conform to federal regulations.
What information must be reported on CERTIFICATION FOR INDIRECT COST RATE?
The information that must be reported includes the organization's indirect cost rate, the basis for the rate, period of the rate, and any related financial statements.
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