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Oregon Department of Education 255 Capitol St. NE Salem, OR 973100203 Office of Educational Support Services Business Services (503) 3783600 ext. 4472 RESTRICTED INDIRECT COST ALLOCATION PLAN INFORMATION

How to fill out restricted indirect cost allocation

How to fill out restricted indirect cost allocation?

1. Gather all relevant financial information and documentation related to the restricted indirect costs. This may include grant agreements, contract terms, and any other documentation outlining the restrictions placed on the indirect costs.
2. Review the specific restrictions and requirements outlined in the documentation. Understand the limitations and guidelines imposed on the use of indirect costs.
3. Identify and allocate the direct costs that can be attributed to the restricted indirect costs. This may involve analyzing expenses and determining how they relate to the restrictions.
4. Calculate the applicable indirect cost rate. This is typically determined by dividing the total indirect costs by a base such as direct labor hours or direct salaries.
5. Apply the indirect cost rate to the eligible direct costs to allocate the proper amount of indirect costs to each category.
6. Ensure accuracy and consistency in the allocation process. Double-check all calculations and ensure that the allocated indirect costs align with the restrictions and guidelines established in the documentation.
7. Keep detailed records of the allocated restricted indirect costs, including the calculations and supporting documentation. This will be important for reporting and auditing purposes.
8. Communicate with relevant stakeholders, such as grantors or funding agencies, to ensure compliance and transparency in the allocation process.
9. Periodically review and update the restricted indirect cost allocation as necessary, based on any changes in regulations, agreements, or other factors that may impact the allocation.

Who needs restricted indirect cost allocation?

1. Non-profit organizations: Non-profit organizations that receive grants or funding often have restrictions placed on how they can use indirect costs. They need to understand and comply with these restrictions to accurately allocate indirect costs.
2. Government entities: Government entities that receive federal funds or grants may have regulations in place that dictate how indirect costs can be allocated. They need to ensure compliance with these regulations.
3. Businesses with restricted funding: Companies that receive funding with specific limitations or guidelines on indirect costs need to allocate those costs properly to adhere to the funding requirements.
4. Research institutions: Research institutions that receive funding for specific projects or studies may be subject to restrictions on how indirect costs can be allocated. They need to ensure accurate and compliant allocation of these costs.
5. Educational institutions: Educational institutions that receive grants or other funding may have restrictions on how indirect costs can be used and allocated. They need to understand and follow these restrictions to properly allocate indirect costs.

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What is restricted indirect cost allocation?

Restricted indirect cost allocation is the process of allocating indirect costs to specific activities or projects that have restrictions on how those costs can be used.

Who is required to file restricted indirect cost allocation?

Organizations that have grants or contracts that require specific allocation of indirect costs are required to file restricted indirect cost allocation.

How to fill out restricted indirect cost allocation?

Restricted indirect cost allocation can be filled out by identifying the indirect costs associated with a particular project or activity and allocating them based on the restrictions imposed.

What is the purpose of restricted indirect cost allocation?

The purpose of restricted indirect cost allocation is to ensure that indirect costs are allocated in accordance with the restrictions imposed by funding sources.

What information must be reported on restricted indirect cost allocation?

Information such as the total indirect costs, the specific activities or projects to which the costs are allocated, and any restrictions on how the costs can be used must be reported on restricted indirect cost allocation.