Corresponding Policy: See ‘Designated Operating Funds’ policy
Corresponding Forms: N/A
Process: Recording of Indirect cost
1. Indirect costs charged to designated operating funds will be recorded in each applicable designated operating fund that rolls up to the following baseline roll-up funds:
|050000||Designated Operating Funds|
|050001||Continuing Education (non-credit)|
|055000||Other Instructional Opns|
|057000||Public/Community Service Opns|
2. Use the following account codes to record indirect cost charges in the designated operating funds:
|28201 - Administrative and Support Service Charge|
|28204 - General Administration Overhead Charge|
|70003 - Designated Operating Funds Administrative Costs|
3. Indirect cost charges will be recorded in the designated operating funds at least quarterly.
4. Recovery of the indirect cost charge will be credited to a fund type 11 - budgeted operations fund.
5. Recovery of the indirect cost charges will be credited to fund type 11 - budgeted operations using the following account code:
|79390 - Admin Service Reimbursement|