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INSTRUCTIONS: Refer to detailed instructions included in Indirect Cost Plan. Complete and return by JUNE 28 to:Wisconsin Department of Public Instruction INDIRECT COST RATE ADJUSTMENT Office of Management
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01
To fill out the PI-1161 indirect cost rate form, follow these steps:
02
Start by providing your organization's basic information, such as name, address, and contact details.
03
Specify the reporting period for which the indirect cost rate is being calculated.
04
Determine the direct costs incurred during the reporting period. Direct costs are the expenses directly attributable to a specific project or activity.
05
Calculate the indirect costs for the reporting period. Indirect costs are the expenses that are not directly tied to a specific project or activity but still contribute to its overall cost.
06
Calculate the indirect cost rate by dividing the total indirect costs by the total direct costs. Multiply the result by 100 to convert it into a percentage.
07
Provide any additional information required by the form, such as explanations or justifications for certain cost categories.
08
Review the completed form for accuracy and make any necessary adjustments.
09
Submit the filled-out PI-1161 indirect cost rate form to the relevant authority or department responsible for its evaluation.

Who needs pi-1161 indirect cost rate?

01
The PI-1161 indirect cost rate is typically required by organizations or institutions that receive federal funding for their projects or activities.
02
This form helps determine the Indirect Cost Rate, which is used to calculate the portion of indirect costs that can be claimed as part of the overall project budget.
03
Government agencies, educational institutions, non-profit organizations, and research organizations are examples of entities that may need to fill out and submit the PI-1161 indirect cost rate.
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The pi-1161 indirect cost rate is the predetermined rate at which indirect costs are applied to a base for the purpose of calculating the amount of indirect costs that can be recovered on a federal award. It is typically expressed as a percentage.
Nonprofit organizations that receive federal funding and have negotiated an indirect cost rate agreement with the federal government are required to file pi-1161 indirect cost rate.
To fill out pi-1161 indirect cost rate, organizations must provide detailed information about their indirect costs, the base to which the rate will be applied, and any supporting documentation required by the federal government.
The purpose of pi-1161 indirect cost rate is to ensure that organizations recovering indirect costs on federal awards do so in a transparent and accountable manner.
On pi-1161 indirect cost rate, organizations must report their negotiated indirect cost rate, the base to which the rate will be applied, and any changes to their indirect cost rate agreement.
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