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Update to the Department of Defense F&A Rate Cap

Update to the Department of Defense F&A Rate Cap. Michael Corcoran, Assistant D irector , Office of Sponsored Programs Tim Vacha, Accounting Officer , Office of the Vice President for Finance. FY 2011 Funding .

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Update to the Department of Defense F&A Rate Cap

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  1. Update to the Department of DefenseF&A Rate Cap Michael Corcoran, Assistant Director, Office of Sponsored Programs Tim Vacha, Accounting Officer, Office of the Vice President for Finance Sponsored Project Administration (SPA)

  2. FY 2011 Funding • The FY2011 final budget bill (H.R. 1473) did not include language that addressed the DOD cap – by virtue of that language not being in the legislation, the DOD cap effectively has been eliminated for new awards issued by DOD.DOD and ONR have not provided any additional information or guidance, however, we are in contact with them and COGR and will provide an update the when there is additional information Sponsored Project Administration (SPA)

  3. Revised DoD cap account set-up procedure • As result of this change MIT is revising the account structure that was implemented in February 2011 by taking the following steps: Sponsored Project Administration (SPA)

  4. Revised DoD cap account set-up procedure For new awards • Awards will be set up as they were prior to the implementation of the DoDcap in November of 2007 Benefit: This would mean only 1 account to manage for the life of the award. Unless child accounts are needed by the DLC or as required for cost sharing, fabricated equipment accounts etc. • Reporting will be performed as required by the award terms Sponsored Project Administration (SPA)

  5. Revised DoD cap account set-up procedure For current awards • New funding received under a current award with FY2011 funds not subject to the cap: • New child account will be set up called DoD FY2011 Funding -Uncapped • We will now have situations where an award will have some years that were subject to the cap that now have received uncapped funding in FY2011 • OSP will extend all the open child accounts to show the full period of the award • Same as today: Quarterly report provided by Sponsored Accounting to monitor accounts with cap Sponsored Project Administration (SPA)

  6. Revised DoD cap account set-up procedure For current awards, cont’d. • At the end of the award • Make adjustments for the cap • DLC provides discretionary account number to fund amounts over the cap (without account, underrecovery charged to suspense accounts) Sponsored Project Administration (SPA)

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