Overcome the various hurdles in your cost recovery process with a more efficient approach.
Getting your school's fair share of reimbursement from the federal government for sponsored science and engineering research on campus isn't easy. The cost recovery phase can often be lengthy and time consuming, involving numerous calculations that in the end will determine how much you'll collect.
Gain a more critical understanding of the space study or survey process that drives the majority of reimbursement and learn how technology can substantially improve your ability to collect critical data on campus that ultimately
When you understand the process from start to finish, you stand above the competition. Confront this potentially complex scenario head on with a strategy that will help position you to achieve maximum returns, including how to:
The Office of Management and Budget sets forth a pre-defined set of requirements for determining direct vs. indirect costs.
Direct costs are those specifically associated with a sponsored project, instructional activity, institutional activity and costs for items like salaries, materials, travel and equipment dedicated to the project.
Indirect costs come from common or joint objectives which can't be identified specifically with a particular sponsored project or activity. To be reimbursed for these indirect costs, universities must develop F&A funding proposals that are submitted to the government for a detailed audit.
The foundation for a successful F&A funding proposal is through an accurate understanding of space usage. A space study supporting the base year's indirect cost proposal must reflect functional use of the space over that entire year.
Because the process has been historically paper-driven, many administrators frequently have trouble securing adequate participation by department representatives, even with the critical nature of the work for reimbursement purposes.
Emphasizing the importance of stakeholder participation is the first step in overcoming this potential roadblock.
To modernize the benefit business intelligence, data must be accurate, sufficiently detailed, and consistently available.
Because a typical university has hundreds of departments and thousands of rooms, gathering this data isn't exactly easy. In an effort to simplify and automate this process, schools have turned to secure web applications and portals that are easily accessed from anywhere.
This web-based survey system extends the reach of traditional Integrated Workplace Management Systems to a larger population of users who actually occupy the spaces in question.
Learn more: For more on examples of how your college or university can maximize your reimbursement, view our complete whitepaper.
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For more on how to maximize your indirect cost recovery, download our complete whitepaper.
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