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By Donald Cassady, President/CEO, GMS, Inc.
Do you have grants and contracts that end at various times during your fiscal year? Are you required to submit final financial reports for these programs prior to your fiscal year ending? Do you use actual rates determined by using a year-to-date base for any of the allocation pools such as leave, fringe benefits, indirect costs and/or special allocations?
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By Donald Cassady, President/CEO, GMS, Inc.
Do you have program costs that benefit a specific set of programs and you are allocating them using an arbitrary base, or worse yet, based on budget? If so one of these supplements may be of great use to your organization. The basic premise of both of these supplements is the same: They give you the ability to create an unlimited number of pools in which to collect costs to be allocated, and then you identify which programs are to receive these allocated costs.
By Donald Cassady, President/CEO, GMS, Inc.
Some grants and/or contracts may require you to report all of your indirect costs for their program under one specific element such as Administration. If this is true for your agency, Supplement #383 Shift Indirect Costs can accomplish this. Note: This supplement does not affect or change the normal allocation of your indirect costs that should be set up in accordance with your Indirect Cost Plan. The purpose of this supplement is to help you meet your external reporting requirements.
Once the normal allocation of your indirect costs are done, Shift Indirect Costs will transfer the indirect costs from specific elements to one receiving element so all indirect costs will be reported in a single element. |
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Since 1980, GMS, Inc. (Grants Management Systems, Inc.) has designed specialized software with a demonstrated record of success for nonprofit and public organizations throughout the United States. For over 30 years GMS has successfully implemented accounting and revolving loan systems for grant and contract recipients, and continues to provide support long after the initial implementation of these systems, setting us apart from our competitors.
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