Non-Profit and Governmental Indirect Cost Rate Requirements
In order to claim indirect costs for grant reimbursement, each such sub-recipient is required to annually submit a signed cost allocation plan for review and acceptance by MoDOT. The rate must be audited by an independent Certified Public Accountant (CPA) with experience in preparing cost allocation plans for non-profit or governmental organizations in accordance with 2 Code of Federal Regulations (CFR) 200.
Compliance with 2 CFR 200 requires MoDOT to review the following documents:
- 1. Cost allocation plan;
- 2. Organization chart;
- 3. Employee time sheet sample showing allocation of direct and indirect labor hours;
- 4. Audited schedules of indirect costs and fringe benefits;
- 5. Audited, reviewed or compiled financial statements;
- 6. Certification of indirect costs; and
- 7. Listing of grants/contracts with MoDOT.