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REQUEST FOR PROPOSALS RFP Number: 18003 Auditing, Indirect Cost Allocation and Actuarial Services for Appomattox CountyIssue Date: February 7, 2018, Bid Deadline: February 28, 2018Appomattox County
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To fill out indirect cost recovery, follow these steps:
02
Gather all relevant financial documents and receipts.
03
Identify the indirect costs incurred by your organization.
04
Calculate the appropriate indirect cost rate based on your organization's policies and guidelines.
05
Allocate the indirect costs to specific programs or projects based on the predetermined allocation method.
06
Record the allocated indirect costs in the appropriate financial forms or accounting software.
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Cross-check the filled-out indirect cost recovery form for accuracy and completeness.
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Submit the completed form to the relevant department or authority for approval.

Who needs indirect cost recovery?

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Indirect cost recovery is needed by organizations that incur indirect costs in the course of their operations. This can include government agencies, nonprofit organizations, universities, research institutions, and other entities that need to recover their indirect costs from funded projects or programs.
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Indirect cost recovery refers to the process of reclaiming costs that are not directly attributable to a specific project or activity but are necessary for the overall operation of an organization, such as administrative expenses and utilities.
Organizations that receive federal funding or grants typically are required to file for indirect cost recovery in order to reimburse themselves for indirect costs associated with the funded projects.
To fill out indirect cost recovery forms, organizations must complete the appropriate forms by detailing their indirect costs, providing necessary documentation, and following the guidelines set forth by the funding agency.
The purpose of indirect cost recovery is to ensure that organizations can recoup the costs of operations that support projects but cannot be directly billed to a specific grant or contract.
Organizations must report their total indirect costs, the methodology used to calculate these costs, supporting documentation, and other financial statements as required by the funding agency.
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