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NAME OF STATE AGENCY OR LOCAL GOVERNMENTAL
UNIT
- General Accounting Policies
- Basis of Accounting (Accrual, Cash or Modified Cash)
- Fiscal Period (Insert your 12 month fiscal year)
- Allocation Basis (Specify Simplified or Direct Allocation
Basis)
- Indirect Cost Rate Allocation Base (Describe allocation
base)
- (Name of Agency) maintains adequate internal controls to insure
that no cost is charged both directly and indirectly to Federal contracts or
grants.
- (Describe any other accounting policies utilized)
- Description of Cost Allocation Methodology
- Salaries and Wages
- Direct Costs (General statement describing the
criteria in which employees direct charge their time, such as "The majority of
the employees direct charge their salary costs since their work is specifically
identifiable to specific grants, contracts, or other activities of the
organization. The charges are supported by auditable labor distribution reports
which reflect the actual activities of employees".)
- Indirect Costs The following staff members charge 100%
of their salary costs indirectly.
List Appropriate Positions
- Mixed Charges The following employees may charge their
salary costs to both direct and indirect activities.
List Appropriate
Positions The distinction between direct and indirect is primarily based on
functions performed. For example, when the positions shown are performing
functions that are necessary and beneficial to all programs, they are indirect.
When functions are specific to one or more programs they are direct because
they do not benefit all programs. Auditable labor distribution records
which reflect the actual activities of employees are maintained to support the
mix of direct/indirect charges.
- Describe how release time (vacation, sick leave, holiday pay,
etc.) is treated. Include information on whether vacation time is accrued and
charged to programs when earned or charged when taken; whether allocated the
same as the related salary cost or some other methodology; and whether treated
as a fringe benefit or same as normal salary charges.
- Fringe Benefits
(Describe all fringe benefits and whether a
fringe benefit is tracked by the agency's accounting system or whether a fringe
benefit rate needs to be established). List each major object of
expenditure and describe how treated. Some examples would be:
- Travel
- Occupancy Expenses
- Supplies and Materials
- Communications
- Photocopying and Printing
- Outside Services
- Depreciation and Use Allowances
- Repairs and Maintenance
- Charges allocated down from the State such as SWCAP costs
- Capital Items
- Legal Fees
- Audit Fees
This list is not all inclusive each Agency should include those
items of expense that are charged either directly or indirectly to Federal
grants/contracts.
Signature ____________________________________ Date
____________________________________ Title
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