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Understanding and Using the De Minimis Indirect Cost Rate

Webinar • Tuesday, July 20, 2021 • 2:00-3:30 p.m. ET

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$249.00 Understanding and Using the De Minimis Indirect Cost Rate (07.20.21) (On-Demand Recording)
Webinar Details

Prerequisites: Some knowledge of federal grant management and audit requirements is helpful

Recommended Field of Study: Specialized Knowledge and Applications

Program Knowledge Level: Basic

Advanced Preparation: None

When the Office of Management and Budget overhauled its federal grants management policies a few years back, it introduced a unique concept for indirect cost recovery known as the “de minimis” indirect cost rate. OMB apparently thought that it would be simplifying the lives of many recipients and subrecipients, but it hasn’t turned out that way.

Although OMB attempted to clarify the policy last year with revisions to its uniform guidance (2 CFR 200), confusion remains. The problem may have started with use of an arcane Latin phrase — “de minimis.” More importantly, staff from federal agencies, pass-through entities, recipient and subrecipient organizations, and independent audit firms are still trying to understand the policy, accounting method and auditing implications that go along with it.

This webinar will take on the challenge of explaining the de minimis indirect cost rate. During this session, you’ll learn:

  • What is the basis for this policy, and what are its intended advantages?
  • Where did the 10% come from?
  • Which recipients and subrecipients are eligible to elect the de minimis rate?
  • Can the de minimis rate be used on some federal awards but not others?
  • Can a federal agency or pass-through entity force a lower-tier organization to use the rate?
  • How is the de minimis rate applied?
  • What is meant by the required “modified total direct cost” base?
  • What kind of documentation is required to support the rate?
  • How is the rate addressed during a single audit?
  • What should happen if the policy is misapplied?
  • When can an organization decide to negotiate a different rate with the federal government?

Bob Lloyd, principal of Federal Fund Management Advisor™, will conduct this authoritative session. Bob’s hands-on experience with federal indirect cost policy includes co-authorship of the federal guide for development of indirect cost rate proposals by state and local governments. During his long career in federal award implementation, he has conducted hundreds of training sessions on grant cost allowability, proper charging practices and indirect cost recovery.

WHO SHOULD ATTEND:

  • Finance directors
  • Controllers
  • Accounting staff
  • Grant and contract manager
  • Sponsored projects administrators
  • Program managers
  • Internal auditors
  • External auditors

Join Bob Lloyd, principal of Federal Fund Management Advisor™, for this unique session.

Hand-out Materials:

Attendees will receive presentation slides as well as access to background materials.

Allowable Charges

The costs of webinars sponsored by Federal Fund Management Advisor™ are allowable charges to your federal grants and subgrants. The cost principles issued by OMB under its uniform guidance (and applicable to all types of awardees) state, “The cost of training and education for employee development is allowable” (2 CFR 200.472).

Attend this Live Webinar and Earn up to 1.5 CPE Credits

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