Get Indirect Cost Rate Proposal Checklist

Completing the Indirect Cost Rate Proposal Checklist online can streamline the process of submitting your organization's indirect cost rate proposal. This guide provides clear, step-by-step instructions to help ensure that you fill out the form accurately and completely.

Follow the steps to successfully complete your indirect cost rate proposal checklist.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin with the organizational profile section. Provide a cover letter clearly stating the requested periods and type of rates. Summarize the major activities your organization performs along with a description of its mission, particularly focusing on services for the general public.
3. Detail the services that are allowable and allocable to federal grants and contracts, referencing the applicable cost principles. Ensure to include the organizational chart that outlines the various services provided by each business unit.
4. Fill out the signed cost policy statement, detailing your organization's accounting policies including the basis of accounting, fiscal year end, and the indirect cost allocation methodology. Specify the allocation base for the indirect cost rate.
5. Indicate the nature of each general ledger expense account as either direct or indirect. Make special notes for accounts that may fall into both categories and describe the criteria for their classification.
6. Provide a description of the methodology for allocating costs across the various expense accounts designated for more than one activity.
7. Elaborate on unallowable costs and the methods in place to segregate these costs within your accounting system. Include a list of expense accounts associated with unallowable costs.
8. Include a completed employee time sheet sample that outlines hours spent on direct and indirect functions, along with relevant policies for completing these reports.
9. Draft written policies that articulate how your organization prepares the indirect cost rate proposal.
10. Append comprehensive financial reports for the year under review, including audited financial statements, the single audit report, and federal income tax returns if prior documents are unavailable.
11. Detail the ICR calculation, covering indirect cost pool expenses, direct cost base calculations, unallowable costs, and exclusions from direct cost base computation.
12. Explain any unusual factors that may impact the proposed rates, including any agreements affecting the proposed rates.
13. Consolidate a listing of all grants and contracts active during the fiscal year under review, ensuring to note total amounts, performance periods, and any indirect cost limitations.
14. Finalize your submission with completed certifications, including a lobbying certificate and certificate of indirect costs, ensuring they are signed by an authorized organizational representative.
15. Once all sections are completed, review the entire document for accuracy. Save your changes and choose to download, print, or share the completed form as required.

Complete your indirect cost rate proposal checklist online today to ensure swift processing of your proposal.