Indirect Costs

Owned by Chad
Last updated: Jun 14, 2021

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:

050000Designated Operating Funds
050001Continuing Education (non-credit)
055000Other Instructional Opns
057000Public/Community Service Opns

2. Use the following account codes to record indirect cost charges in the designated operating funds:

Account Code
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:

Account Code
79390 - Admin Service Reimbursement