Get the free F&A Indirect Cost Policy - SLU

SAINT LOUIS UNIVERSITY Facilities & Administrative (F&A) Indirect Cost PolicyPolicy Number: RA006 Version: 4.0 Classification: Research Administration Effective Date: July 1, 2014, Responsible University

How to fill out fampa indirect cost policy

How to fill out fampa indirect cost policy

1. To fill out the FAMPA indirect cost policy, follow the steps below:
2. Start by gathering all necessary documents and information related to your organization's indirect costs.
3. Identify the specific cost categories that are eligible for indirect cost allocation according to FAMPA guidelines.
4. Calculate the indirect cost rate by dividing the total allowable indirect costs by the allocation base (e.g., direct labor hours, direct costs).
5. Document the methodology for allocating indirect costs and ensure it complies with FAMPA requirements.
6. Review and revise your organization's indirect cost policy accordingly, incorporating the calculated indirect cost rate and allocation methodology.
7. Seek approval from the relevant authorities or stakeholders within your organization.
8. Implement the policy by communicating it to all concerned parties and ensuring proper training on its application.
9. Monitor and periodically review the indirect cost allocation process to ensure compliance and make necessary adjustments as required.
10. Retain proper documentation and records related to indirect cost allocation for auditing purposes.
11. Stay updated with any changes or updates to FAMPA guidelines and adjust your indirect cost policy accordingly.

Who needs fampa indirect cost policy?

1. Any organization that receives federal funding through the FAMPA program and has indirect costs is required to have a FAMPA indirect cost policy.
2. This includes nonprofits, government agencies, educational institutions, and other entities that receive federal grants or contracts.
3. Having a FAMPA indirect cost policy helps ensure proper allocation and reimbursement of indirect costs, promoting transparency and accountability in the use of federal funds.

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What is fampa indirect cost policy?

FAMPA indirect cost policy is a set of guidelines and procedures established by the Federal Agency Monitoring Program Association (FAMPA) to determine how indirect costs are allocated and reported.

Who is required to file fampa indirect cost policy?

All organizations that receive federal funding and have indirect costs are required to file FAMPA indirect cost policy.

How to fill out fampa indirect cost policy?

Filling out FAMPA indirect cost policy involves documenting and allocating indirect costs incurred by an organization in a way that complies with the guidelines set forth by FAMPA.

What is the purpose of fampa indirect cost policy?

The purpose of FAMPA indirect cost policy is to ensure that indirect costs are allocated and reported accurately and fairly among organizations that receive federal funding.

What information must be reported on fampa indirect cost policy?

Information such as the organization's indirect cost rate, cost allocation methods, and supporting documentation must be reported on FAMPA indirect cost policy.