Get the free Indirect Cost Rate Proposal Checklist - dol

Updated on Dec 2016 Exhibit A Indirect Cost Rate Proposal Checklist State Workforce Agencies U 1. Submit once unless changes are observed: 1a. Organizational chart, 1b. Employee time sheet sample,

How to fill out indirect cost rate proposal

How to fill out indirect cost rate proposal

1. Step 1: Gather all necessary financial documents such as your organization's financial statements, budgets, and expenses.
2. Step 2: Determine the base and pool costs for your indirect cost rate proposal. The base costs include direct salaries and wages, while the pool costs include indirect costs such as overhead, rent, utilities, and supplies.
3. Step 3: Calculate the indirect cost rate by dividing the pool costs by the base costs. This will give you the percentage of indirect costs to apply to direct costs.
4. Step 4: Prepare a detailed narrative explaining the methodology used for calculating the indirect cost rate. Provide any supporting documentation or references to relevant regulations or guidelines.
5. Step 5: Complete the required forms or templates provided by the funding agency or organization requesting the indirect cost rate proposal. Include all necessary financial and narrative sections.
6. Step 6: Review and double-check all calculations, numbers, and information provided in the proposal to ensure accuracy and completeness.
7. Step 7: Submit the filled-out indirect cost rate proposal to the appropriate funding agency or organization according to their specified submission instructions and deadlines.
8. Step 8: Follow up with the funding agency or organization to ensure the proposal is received and to address any additional questions or requests for clarification.
9. Step 9: Keep a copy of the submitted proposal for your records and reference.

Who needs indirect cost rate proposal?

1. Non-profit organizations that receive funding from government agencies or private foundations for their programs or projects.
2. Grantees or contractors who provide services to government agencies or other organizations and require approval of their indirect cost rates.
3. Organizations that need to justify and recover indirect costs related to overhead, administration, facilities, and other support services.
4. Entities seeking to establish their indirect cost rate as part of their financial management and accounting practices.
5. Any organization or entity that wants to adhere to best practices of financial transparency and accountability.

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What is indirect cost rate proposal?

The indirect cost rate proposal is a document submitted by a government contractor to establish the rate at which indirect costs will be reimbursed by the government.

Who is required to file indirect cost rate proposal?

Government contractors who wish to be reimbursed for their indirect costs are required to file an indirect cost rate proposal.

How to fill out indirect cost rate proposal?

The indirect cost rate proposal can be filled out by providing detailed information about the company's indirect costs, such as overhead expenses and other related costs.

What is the purpose of indirect cost rate proposal?

The purpose of the indirect cost rate proposal is to ensure that government contractors are reimbursed for their indirect costs at a fair and reasonable rate.

What information must be reported on indirect cost rate proposal?

Information such as overhead expenses, fringe benefits, and other indirect costs must be reported on the indirect cost rate proposal.