
Simplifying Indirect Cost Rate Management for CILs Workshop
Explore practical strategies and expert insights on simplifying your organization's indirect cost rate management beyond regulations. Learn how to streamline your accounting system and reporting for smoother financial operations and compliance. Join us in Baltimore, Maryland on May 25-27, 2016, with renowned presenters in the field.
Download Presentation

Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
Financial Management: Financial Management: Workshop for CILs Regulations and for CILs Regulations and Beyond Workshop Beyond Baltimore, Baltimore, Maryland May 25 May 25- -27, 2016 27, 2016 Maryland Presenters: John Heveron, Jr. CPA John Heveron, Jr. CPA Heveron & Company, CPAs Paula Paula McElwee McElwee IL-NET Steven Spillan, Esq. Steven Spillan, Esq. Brustein & Manasevit, PLLC 11
Making Your Accounting System Making Your Accounting System Consistent with Indirect Cost Rate Consistent with Indirect Cost Rate 2
How to Make your Indirect Cost Rate How to Make your Indirect Cost Rate Process Simpler? What To Do Now Process Simpler? What To Do Now The level of detail in your Indirect Cost Rate Proposal should be based on and be similar to the level of detail in your statement of functional expenses if you issue financial statements, or to your Form 990 if you issue a full form 990 rather than a Form 990 EZ. Simplify your record-keeping and your vouchering by using fewer categories and putting more (small) items into indirect. 3
How to Make your Indirect How to Make your Indirect Cost Rate Process Simpler? Process Simpler? What What To Do Now, Cost Rate To Do Now, cont d. Rule of thumb if an expense category didn t total $1,000 last year try combining it with something else. When you have multiple funders for the same program, don t break these costs out in your accounting system; use percentages to break out between funders. Be mindful of other funding requirements such as those your State imposes. 4
Simplifying Annual Indirect Cost Rate Simplifying Annual Indirect Cost Rate Reporting Reporting Save the spreadsheets you develop for your indirect cost rate proposal. You will be able to use them for subsequent reporting. Keep a file of annual submissions to assure consistency. Also keep a file of indirect cost rate approvals. If you add income or expense accounts to your general ledger, consider how they will affect your indirect cost rate and your annual reporting. 5
CIL CIL- -NET NET Attribution Attribution Support for development of this technical assistance information was provided by the Department of Health and Human Services, Administration for Community Living under grant number 90TT0001-02-00. No official endorsement of the Department of Health and Human Services should be inferred. Permission is granted for duplication of any portion of this information, providing that the following credit is given to the project: Developed as part of the IL-NET, an ILRU/NCIL/APRIL National Training and Technical Assistance Program. 6