Finding Text
AS IN 2018, 2019, 2020, AND 2021, IN FISCAL YEAR 2022, THE COMMITTEE DID NOT SUBMIT THEIR INDIRECT COST RATE PROPOSAL BY THE REQUIRED DEADLINE OF MAY 31, 2023, OR BY THE DATE OF AUDIT COMPLETION. ACCORDING TO "A GUIDE FOR INDIRECT COST RATE DETERMINATION," WHICH IS BASED ON THE COST PRINCIPLES AND PROCEDURES REQUIRED BY 2 CFR PART 200, SUBPART E & APPENDIX IV FOR NON-PROFIT ORGANIZATIONS, THE COMMITTEE IS REQUIRED TO SUBMIT THE INDIRECT COST RATE PROPOSAL ON AN ANNUAL BASIS TO THE OFFICE OF COST DETERMINATION NO LATER THAN SIX MONTHS AFTER THE CLOSE OF THE FISCAL YEAR. WE RECOMMEND THAT THE COMMITTEE ESTABLISH A CHECKLIST FOR SIGNIFICANT REPORTING AND SUBMISSION DATES, INCLUDING THE DATE FOR SUBMISSION OF THE INDIRECT COST RATE PROPOSAL.