The final step in the indirect rate lifecycle is reconciling indirect cost rates. Government contracts subject to the Allowable Cost and Payment and the Payments Under Time-and-Materials and Labor-Hour Contracts clauses must submit an adequate final rate proposal — the indirect cost rate reconciliation or incurred cost submission. The incurred cost submission is due no later than six months after the end of the fiscal year and is used to establish final indirect cost rates for flexibly-priced contract billings and contract close-outs. Join this webinar to discuss the fundamentals of final indirect rate proposals otherwise known as incurred cost submissions.
Course Topics Covered:
- Contract applicability
- Final rate (Incurred Cost) submission requirements
- Final rate certification responsibilities
- Mitigating final rate audit risks