Indirect Cost Rate Changes Hit Campus!

• Last year the university signed a new indirect cost rate (IDC, also known as Facilities & Administrative cost) agreement for federal grants.
• The new agreement only applies to new or competitive renewal awards that began on or after July 1, 2001.
• If a research award was made under the "new" agreement, the IDC rate for fiscal year July 1, 2001-June 30, 2002 was 51% and the IDC rate for fiscal year July 1, 2002-End of Project Period is 52.5%.
• If a grant was awarded under the "old" agreement (on or prior to June 30th, 2001) the rate for research awards will continue to be 51%.
• Rates for Instructional and other types of grants have also changed under the "new" agreement. Please refer to http://adminet.uchicago.edu/adminann/acct_ann/fa_costrates2002_062102.shtml for more info and a chart showing all the rate changes.

Important Animal Charge Updates

• Effective July 1, 2001, the Animal Facility Charge (AFC) of 35% to federal awards was discontinued and the Modified Total Direct Cost (MTDC) base was changed to include animal charges (subaccounts 22xx and 51xx). However, at the deans’ request, the indirect cost rate on animal charges incurred during Fiscal Year 2002 was limited to the financial equivalent of the Animal Facility Charge of 35%.
• Effective July 1, 2002, the indirect cost rate on animal costs charged to federal (Ledger 5) research awards will increase from 35% to 51.0% for awards whose new or competitive segment began prior to July 1, 2001 and to 52.5% for awards that began on July 1, 2001 or later. Animal indirect costs on federal awards will now be charged to subaccount 9101 instead of to subaccounts 2298 & 5198.
• For all non-federal accounts, the Animal Facility Charge of 35% will continue to be charged and will be accounted for in subaccounts 2298 & 5198.
• For more information, please refer to http://adminet.uchicago.edu/adminann/acct_ann/fa_costrates2002_062102.html.

Gifts (but it's not my Birthday!)

• Grant payments from federal, state and local government agencies as well as contract and drug study payments should be deposited directly to the award's 0-ledger account. Contact Pat Hallow, Manager of Accounting and Reimbursement in Restricted Funds, at 2-1972 for further information and deposit instructions.
• All other grant payments and all gift payments are to be deposited to the Gift Clearance account (0-19350-2810) and then forwarded to Gift Processing/Operations (located in the Administration Bldg., 5801 S. Ellis, Room 7) to be entered into ADDS (the Alumni Development Database System) which is managed by the Office of Development And Alumni Relations. Contact Vicki Scott (4-8976), Nancy Gormley (4-1072) or Tracy Guyton (4-9163 - BSD & Hospital departments only) for more information.

RA Tuition Remission Rates Revisited

• Accounts that pay Type B Research Assistant (RA) salaries (subaccount 1801) also pay RA tuition remission expense (subaccount 8319).
• Effective July 1, 2002 the tuition remission rate for the BSD will change from 44.6% to 42.1%, the PSD rate will continue at 60% and the rate for all other areas will continue at 64%.