DEFINITION OF RATES Sample Clauses

DEFINITION OF RATES. 1. Final rate means an indirect cost rate applicable to a specified past period which is based on the actual costs of the period. A final rate is not subject to adjustment. 2. Provisional rate or billing rate means a temporary indirect cost rate applicable to a specified period which is used for funding, interim reimbursement, and reporting indirect costs on Federal awards pending the establishment of a final rate for the period. 3. Predetermined rate means an indirect cost rate, applicable to a specified current or future period, usually the organization's fiscal year. The rate is based on an estimate of the costs to be incurred during the period. A predetermined rate is not subject to adjustment. 4. Fixed rate means an indirect cost rate which has the same characteristics as a predetermined rate, except that the difference between the estimated costs and the actual costs of the period covered by the rate is carried forward as an adjustment to the rate computation of a subsequent period. The Special Remarks section of this agreement may include a carry forward amount(s) for the applicable fiscal year(s).
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DEFINITION OF RATES. 1. Final rate means an indirect cost rate applicable to a specified past period which is based on the actual costs of the period. A final rate is not subject to adjustment. 2. Provisional rate or billing rate means a temporary indirect cost rate applicable to a specified period which is used for funding, interim reimbursement, and reporting indirect costs on Federal awards pending the establishment of a final rate for the period. 3. Predetermined rate means an indirect cost rate, applicable to a specified current or future period, usually the organization's fiscal year. The rate is based on an estimate of the costs to be incurred during the period. A predetermined rate is not subject to adjustment. 4. Fixed rate means an indirect cost rate which has the same characteristics as a predetermined rate, except that the difference between the estimated costs and the actual costs of the period covered by the rate is carried forward as an adjustment to the rate computation of a subsequent period. The Special Remarks section in this agreement may include the carry-forward amount of the applicable fiscal years. Central service costs (commonly known as State-Wide Cost Allocation Plan costs, or SWCAP costs), when applicable and allowed, may be included in the fixed rate. If the approved SWCAP costs are not available, then those proposed costs can be used to calculate the carry-forward amount. Appropriate State and Federal agencies responsible for negotiating the SWCAP must be informed if proposed SWCAP costs are used so that adjustments between the proposed and approved SWCAP costs can be made in subsequent period.
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Related to DEFINITION OF RATES

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