TMCC

Budget and Planning

Procedure for Indirect Costs Contributions

As approved by the TMCC President's Advisory Council on October 15, 2012

Overview

This procedure applies to grants and contracts, and other self-supporting accounts.

Objectives

The objectives of this procedure are as follows:

  1. Ensure that adequate indirect costs are allocated to appropriate college programs.
  2. Provide for process that records and reports indirect cost contributions.

Process

Impacted self-supporting accounts will be charged an indirect rate, administered by the Budget and Planning Office and Accounting Services. The rate for grants and contracts will be the federally approved indirect cost allocation, unless the specific grant/contract agreement specifies a different rate. The current federally approved rate is 33.5%, consisting of institutional support, student services, and facilities support. Other self-supporting accounts will be charged an indirect rate determined by the college.

The college will use the federally-approved rate as the base, and may decrease the rate based on the use for college resources by the self-supporting account. When preparing self-supporting budget, the Budget and Planning Office will notify account manager if their self-supporting account is subject to an indirect rate, and the amount of the rate.

The rate for FY 2013 is 11.79% of expense for institutional support.

The financial office will encumber funds for the estimated indirect expense during the fiscal year. At fiscal year-end, the financial office will adjust the encumbrance as necessary to reflect the actual expenses incurred. Accounts subject to the indirect cost rate will be listed on the budget web site, and will be updated for each annual budget cycle.

College News

TMCC Receives $1.7 Million Grant

TAACCCT grant awarded for veteran's services, diesel technician training, and career programs.

Suicide Prevention Grant Awarded

TMCC receives a $300,000 suicide prevention program grant from DHHS.

Calendar of Events

TMCC Fall 2014 Job Fair

Wednesday, October 1
RDMT 111, Dandini Campus

SGA Senator Visit: Meadowood Center

Wednesday, October 1
Library and 1st Floor Vending Machine area