Indirect Costs definition

Indirect Costs has the same meaning as in 44 Ill. Admin. Code 7000.

Indirect Costs means the shared costs of an organization necessary to the operation and the performance of its programs. This could include fiscal, payroll, information technology, human resources and other costs associated with operating and maintaining staff and work space.

Indirect Costs means those costs that are incurred for a common or joint purpose benefiting more than one cost objective and are not readily assignable to the Project (i.e., costs that are not directly related to the Project). Examples of Indirect Costs include, but are not limited to: central service costs; general administration of the Recipient; non-project-specific accounting and personnel services performed within the Recipient organization; depreciation or use allowances on buildings and equipment; the costs of operating and maintaining non-project-specific facilities; tuition and conference fees; generic overhead or markup; and taxes.

Examples of Indirect Costs in a sentence

The Research Institute agrees to fully comply with the categorization and rules concerning Direct Costs and Indirect Costs described in Appendix 5 and to utilize the Research Funds paying particular attention to cost economy, efficiency, effectivity, compliancy, legitimacy, and accuracy.
With respect to any expense which is not covered by Direct Costs or Indirect Costs or is not specifically described in Appendix 5, the Research Institute shall obtain the written approval of JST before using any of the Research Funds for such expense.
In no event will any costs relating to any of the following items be allowable either as Direct Costs or Indirect Costs.
Such unused amount shall be classified as unused Direct Costs and/or Direct Costs expenditures which have not been approved by JST, and any Indirect Costs are also recoverable by JST as a result of Indirect Cost adjustment reflecting such Direct Costs pursuant to Article 5.5. All fees and charges for wire transfer of the refund shall be borne by the Research Institute.

More Definitions of Indirect Costs

Indirect Costs means those costs that are: (1) incurred for a common or joint purpose benefiting more than one cost objective, and (2) not readily assignable to the cost objectives specifically benefited, without effort disproportionate to the results achieved.

Indirect Costs means those costs that are incurred for a common or joint purpose benefiting more than one cost objective and are not readily assignable to the funded project (i.e., costs that are not directly related to the funded project). Examples of Indirect Costs include, but are not limited to: central service costs; general administration of the Grantee; non-project-specific accounting and personnel services performed within the Grantee’s organization; depreciation or use allowances on buildings and equipment; the costs of operating and maintaining non-project-specific facilities; tuition and conference fees; and, generic overhead or markup. This prohibition applies to the Grantee and any subcontract or sub-agreement for work on the Project that will be reimbursed pursuant to this Agreement.

Indirect Costs means the fees costs expenses premiums and charges for the Project incurred:

Indirect Costs means costs incurred for a common or joint purpose benefiting more than one cost objective and not readily assignable to the cost objective specifically benefited, without effort disproportionate to the result achieved.

Indirect Costs means those costs that have been incurred for common or joint objectives and cannot be readily identified with a particular final cost objective, i.e., a particular Award, Program, service, or other direct activity of an organization. A cost may not be allocated to an award as an Indirect Cost if any other cost incurred for the same purpose, in like circumstances, has been assigned to an award as a Direct Cost. Provider is responsible for presenting costs consistently and must not include costs associated with its Indirect Cost Rate as Direct Costs. The term “Indirect Costs” is synonymous with the term “Administrative Costs.” See, e.g., U.S. Department of Health and Human Services Grants Policy Statement, January 1, 2007, at II-26.

Indirect Costs means costs for a common or joint purpose benefitting more than one cost objective that are allocated to each benefiting objective using an agency approved indirect rate or an allocation methodology. Indirect costs rate or allocation methodology must comply with 2 C.F.R. Part 200 and CMS non-institutional reimbursement policy.

Indirect Costs means the indirect costs incurred by Recipient as a function and in support of the Project, which cannot be traced unequivocally to the deliverables and technical output of the Project.

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