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This form is used by Jacksonville State University to distribute indirect costs associated with grants and contracts among various accounts, including faculty development and departmental accounts.
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How to fill out indirect cost distribution form
How to fill out INDIRECT COST DISTRIBUTION FORM
01
Obtain the INDIRECT COST DISTRIBUTION FORM from your organization's finance department or website.
02
Identify the project or grant for which the indirect costs will be allocated.
03
Fill in the project name and number in the designated fields on the form.
04
Enter the total direct costs for the project, as this information is necessary for calculating indirect costs.
05
Calculate the indirect cost rate applicable to your project and enter this rate in the appropriate space on the form.
06
Multiply the total direct costs by the indirect cost rate to determine the total indirect costs.
07
Fill in the calculated total indirect costs in the specified section of the form.
08
Review the completed form for accuracy, ensuring all calculations are correct.
09
Submit the form to the appropriate department or authority for approval.
Who needs INDIRECT COST DISTRIBUTION FORM?
01
Researchers and project leaders who are managing funded projects or grants.
02
Finance teams responsible for budget management and reporting in academic or research institutions.
03
Grant administrators who need to allocate indirect costs for financial reporting.
04
Organizations seeking reimbursement for indirect costs associated with specific projects.
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People Also Ask about
How long is a Nicra good for?
Annually, however OMB guidelines allow for a one-time extension of a current NICRA for a period of up to four years. The extension will be subject to review and approval of the cognizant agency.
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.
How do I determine who my cognitive agency for indirect costs is?
How do I know which federal agency is my cognizant agency? Your cognizant agency for negotiating indirect cost rates is the federal agency that provides the majority of your federal funding (2 CFR part 200, App VII, sec. F).
How to allocate indirect costs?
Examples of indirect costs include utilities, maintenance on equipment, miscellaneous supplies, salaries, and administrative expenses. These costs are required for an organization to operate, enabling the production of a product or service.
How long does it usually take to get a grant?
Foundation grants: 30 days to 18 months. Federal grants: 6 to 9 months, often with stricter compliance reviews.
How to obtain a nicra?
Contact the department that provides your organization with the most federal funding: Referred to in federal jargon as the “cognizant agency,” this is the organization that provides the majority of federal grant dollars to your organization. In most cases, you'll submit your NICRA proposal to this federal agency.
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What is INDIRECT COST DISTRIBUTION FORM?
The INDIRECT COST DISTRIBUTION FORM is a document used to allocate indirect costs to various departments or projects within an organization, ensuring proper accounting and financial management.
Who is required to file INDIRECT COST DISTRIBUTION FORM?
Organizations that incur indirect costs and need to allocate these costs to specific projects or departments are required to file the INDIRECT COST DISTRIBUTION FORM.
How to fill out INDIRECT COST DISTRIBUTION FORM?
To fill out the INDIRECT COST DISTRIBUTION FORM, gather relevant financial data, identify the indirect costs to be allocated, specify the distribution basis for each project or department, and ensure all calculations are accurate before submission.
What is the purpose of INDIRECT COST DISTRIBUTION FORM?
The purpose of the INDIRECT COST DISTRIBUTION FORM is to provide a systematic way to allocate indirect costs fairly among various budgets or departments, enabling more accurate financial reporting and accountability.
What information must be reported on INDIRECT COST DISTRIBUTION FORM?
The INDIRECT COST DISTRIBUTION FORM must report details such as total indirect costs, allocation methodology, department or project identifiers, and the calculated amounts allocated to each department or project.
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