Indirect cost rate proposal is the process of
identifying and recouping costs that are not
directly associated with a specific project or
program but are necessary for the overall
functioning of an organization. It is a multi-faceted
process that encompasses several stages.
We offer indirect cost rate proposals that are
based on a thorough analysis of your
organization's unique needs, existing operational
structure, contracts and overall financial health.
A team of financial experts, lawyers, accountants, grant advisors and government relations experts as well as
business consultants work together to help our clients plan and execute cost allocation plans, indirect cost rates
and assist in planning for the next cycle.
01
The first stage is the identification of indirect costs,
where all indirect costs are meticulously identified
and classified.
02
The second step is to assess “cost allocation” which
is the appropriation of indirect costs to ensure costs
are allocated to the relevant cost centers, based on a
predetermined allocation method
03
The third stage is the analysis of indirect costs to
ensure accuracy, fairness, and compliance with
standard accounting practices and regulations.
04
uProfyt then reviews the internal controls and
financial systems in place followed by cross
functional meetings within the organization to
redraft the cost allocation sheet.
05
Our fifth step is to assess if the organization is
eligible to apply for cost recovery.
06
uProfyt reviews all contracts and grant awards to
analyze the clauses about indirect cost rates and
cost recovery options.
07
Our firm conducts an extensive research about
available funding options and grants which have
unused monies.
08
This is followed by submitting a proposal to funding
agency and getting the cost recovery rates
approved
09
Then the available monies are tapped and funding is
debited to cover the indirect costs as per the cost
allocation plan
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Related services
Cost Management
& Recovery
Cost Management and Recovery is
your right and the impact of letting
it go is a burden on taxpayers.
