Common use of Cost Allocation Plans Clause in Contracts

Cost Allocation Plans. Indirect Costs - Bi- weekly The State shall request funds bi-weekly, such that they are deposited on the day of the State's payday. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the prorated amount of indirect costs based on the most recent, certified, quarterly cost allocation, with adjustments made to subsequent draws based on actual labor distributions and recoveries, when applicable. This funding technique is interest neutral. Estimated Administrative Costs-Bi-weekly - Monthly Adjustments The State shall request funds bi-weekly such that they are deposited in a State account on the day the State's payroll is issued. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the prorated amount of administrative costs based on a combination of 26 allotments of the annual grant amount adjusted based on historical actual prorated costs for the year. Monthly adjustments are made to subsequent draws based on the actual labor distribution and recoveries when applicable. This funding technique is interest neutral. Estimated Administrative Payroll Costs - Estimated Base-Bi-weekly The State shall request funds bi-weekly for estimated payroll costs such that they are deposited in a State account not more than three business days prior to the day the State makes a payroll disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be determined by applying a percentage of 75% to the appropriate cost base occurring 4 weeks prior with adjustments made to subsequent draws based on actual labor distributions and recoveries when applicable. This funding technique is not interest neutral. Indirect Cost Rates-Estimated Base-Bi- weekly-Quarterly Adjustments The State shall request funds bi-weekly in conjunction with the payroll request such that they are deposited in a State account not more than three business days prior to the day the State makes a payroll disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be determined by applying the indirect cost rate to 75% of the appropriate cost base occurring 4 weeks prior with adjustments made to subsequent draws based on actual labor distributions and recoveries when applicable. A quarterly reconciliation will be completed to ensure programs are in compliance with the indirect cost rate for the federal fiscal year. This funding technique is not interest neutral. Reimbursement - Advance Construction The State shall request funds for contractor payments such that they are deposited by ACH on the same day as requested and after the payments issued by the State have cleared. Of the total number of contractor payments, approximately 82% are issued electronically through ACH/EFT. Additionally, of the total contractor payments, approximately 65% of the federal funds spent are associated with Advance Construction projects. Those contractor payments that are associated with Advance Construction projects are first supported with State funding and converted to Federal funding at a later date. For Advance Construction projects, Federal funds are requested at the time of conversion and the request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount of expenditures converted to Federal funds. This funding technique is interest neutral. State Revolving Funds - Administrative/Tech Costs The State shall request funds monthly for expenditures which were incurred in the prior month. Expenditures will be determined as soon as possible subsequent to the close of each month and a request for funds will normally occur by the second Friday of the month following the ending of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit 1. The amount of the request shall be for the actual expenditures incurred during the prior month. This funding technique is interest neutral.