1 / 15

Costing Update Policy and Rates

Costing Update Policy and Rates. ACOR Retreat 2011 Presented by Debbie Meder, Assistant Controller. Costing Update. Cost Policy Review Team Rate Submission Standards. Cost Policy Review Team. Consolidated Policy Developed Team Members:

lucus
Download Presentation

Costing Update Policy and Rates

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Costing UpdatePolicy and Rates ACOR Retreat 2011 Presented by Debbie Meder, Assistant Controller

  2. Costing Update • Cost Policy Review Team • Rate Submission Standards

  3. Cost Policy Review Team • Consolidated Policy Developed • Team Members: • Debbie Meder, Garth Gregor, Sue Lavan, Missy Surovec, Beverly Lipski, Carla Rossi, Steve Koths, Jim Mattern • Policy flows based on sponsored award lifecycle • Review draft will be sent to ACOR members for comment period • Timeline – GURU updated by end of 2011

  4. Cost Policy Review Team • Plan to develop Executive Summary (key points) • Hoping to develop training modules for faculty on costing policy • May only implement for new faculty • Ideas on training/orientations for faculty welcome • Key subject areas • Methodology – on-line, face-to-face, use of quiz

  5. Cost Policy Review Team • Policy and procedure will continue to evolve • Continuing focus on accountability • Direct vs. Indirect • Cost Accounting Justification forms • Property Inventory ONR ACO (next slide)

  6. Cost Policy Review Team ONR ACO is demanding the following when requesting computer equipment purchases on ONR awards if not already documented in the base award. 1. Describe how the computer directly benefits the project; 2. Describe how it is unlike a general‐purpose item; 3. Confirmation that the computer will be used primarily, if not solely, on the award; and 4. Provide confirmation that the item will be retained for audit purposes. It is requested that in the future, the University ensure this information is provided when requesting a direct charge to the award for purchase of computer equipment.

  7. Cost Policy Review Team Commonwealth of PA Master Agreement: • Travel Rates • Equipment and Expendable Property

  8. Cost Policy Review Team Questions or Discussion

  9. Rate Submission Standards • Rate Approval Task Force • Created by Peter Schiffer • Jody Murawski, Nigel Deighton, Debbie Meder, Beverly Lipski • Made quick fix revisions to AD15 • Created and Charged Rate Submission Standards Task Force

  10. Rate Submission Standards • Members • Chair: Debbie Meder • Cost Analysis: Beverly Lipski • FOs: Carla Rossi, Steve Koths • Facility Managers: Bob Cornwall, Ann Wolf, Leeanna Horner • Nigel Deighton was member but resigned

  11. Rate Submission Standards • Strategic Issues: • General vs. Auxiliary models • Depreciation • Management of subsidy • Market rates • Conducting Business with Outside entities • Definition of Business Units

  12. Rate Submission Standards • Other Topics: • Fees vs. Rates • Develop policy to address separately • Rate Development • Costs to include • Basis for allocating costs • Over/Under Recovery Procedure • Accounting Process

  13. Rate Submission Standards • Rate Database • All fees and rates being entered into master Excel spreadsheet • Will be sent for review by FOs and research administrators overseeing rates • When complete, will be posted on-line

  14. Rate Submission Standards Questions or Discussion

  15. Costing Update Send Comments to Debbie Meder dmm4@psu.edu

More Related