There are a number of different ways that centers are funded through their states or through other federal funds. Some states provide state general funds. This usually requires the passage of a bill or something in the state budget designated
How consistent does my indirect cost rate need to be?
A DSE called during an on-site review of a center to clarify what a center was doing with its indirect costs. “They are claiming the 10% di minimus.” Okay, so far so good. “But if they have any costs over
Understanding Your CIL’s Audited Financial Statements
by John F Heveron, Jr. Principal, Heveron and Company CPAs, Rochester NY Here is a quick overview of audited financial statements and what to look for when reading them. Auditors Cover Letter/Opinion This is addressed to the board and is
Allowable costs: Fines, penalties, damages, legal defense?
45 CFR §75.435 and 75.441 address the costs of these legal issues. The first is very detailed, so I am only going to touch on highlights. If you are working through this, your attorney will want to review the entire
Are fund raising costs allowed? How is fund raising different from resource development?
In the Code of Federal Regulations, 45 CFR §75.442, fund raising as a cost line item is defined as the costs of organized fund raising, including financial campaigns, endowment drives, solicitation of gifts and bequests, and similar expenses incurred to
Are advertising and public relations allowed? Conferences?
My typical answer to whether a cost is allowed is “It depends”. Remember we are talking about whether you are allowed to use federal grant funds (usually Part B and Part C funds) to pay for these things. 45 CFR
How do I report Indirect Costs on my Form 425 (which is DUE December 31).
The most important thing about how you report on this form is to remember that the amount must match what you drew down from your funder. The Form 425 numbers need to match your drawdowns. If this is your end
Allowable costs for federal grants – can we buy a building?
In that list of costs that are not allowable (found in 45 CFR 75) Interest is sometimes allowable and sometimes not. Generally, interest on loans to manage your cash flow are not deductible whether they are line of credit loans,
Allowable costs for federal grants — about lobbying
Over the next few weeks we are going to address the costs that are NOT allowed with federal money, or that are allowed in some cases and not others. The first topic we should discuss is lobbying. First, a CIL
Sharing expenses in another tight year…
Most centers are only seeing an increase in funding next year if they have developed funding from another (usually new) source. Of course, as we know, the new money brings additional work with it, and the need to track staff