PAP.10.22.030 Indirect Cost as In-Kind Match

In cases where indirect cost is utilized as in-kind matching funds, the Chief Financial Officer, or designee shall adhere to the following procedure:

(a) Once month/end program funds are expended, the indirect cost rate shall be charged against the expenditure less any exclusion (equipment and contracted services);

(b) The indirect cost is then invoiced to the program for payment;

(c) For in-kind match. The invoice for indirect cost shall be entered into the system as in-kind (revenue) and as in-kind (expense), along with other monthly in-kind as valued and documented by the Program Director. Documentation shall be submitted on a monthly basis to the Compliance Office for review, and submitted to the General Ledger Specialist for entry into the financial system. One complete, monthly financial reports shall be issued to each Program Director.