Business, Management, and Financial

Indirect Rates

When conducting sponsored projects (i.e. federal grants), Colby Community College is required to assess an indirect rate of 8% for grant administration. The purpose of this policy is to provide guidance to principal investigators and others responsible for the administration of sponsored projects on the requirements for determining the appropriate indirect cost rate(s) applicable to a particular sponsored project, and applies to all faculty and staff who are responsible for authorizing, processing, and monitoring charges to sponsored projects. The established rate of 8% would be assessed based on the annual grant reward.

Indirect Costs

Indirect costs represent expenses that are not readily assignable to any single research or training project, but which represent the College’s costs to carry out training activities and other sponsored programs. Costs include the following maintenance of buildings and equipment, operational support services such as maintenance and operations (utilities, janitorial services, technical support, etc.), library operations, and other administrative services.

 

[Added October 2020]