II. A. 2. i. Indirect Cost Rate

Effective Date:  May 1, 2008

Revises Previous Effective Date:

I. POLICY:
A Technical College may voluntarily apply for an indirect cost rate to be used to allocate various facilities and administrative costs to federal grants and contracts.

II. APPLICABILITY:
All Technical Colleges associated with the Department of Technical and Adult Education.

III. DEFINITIONS:
OMB – Federal Office of Management and Budget

IV. ATTACHMENTS:  N/A

V. PROCEDURE:
All indirect cost proposals will comply with the standards set forth in Office of Management and Budget (OMB) Circular A-21, Cost Principles for Educational Institutions. 
The System Budget Office will provide assistance with the application process.

References
OMB Circular A-21
Circular A-21 Simplified Model

VI. RECORD RETENTION:  N/A