2016 Q3 ISSUE COSTTREE CAPTURE. 09
FINDING RESOURCES
Now that you have read the rules, and you understand your role in the game, it is time to perfect it. How do you do that? Well, finding the best resources to help you to understand the guidelines, as well as to perfect the process, is what needs to be done. Here are some great resources we can share:
Now that you have broken down the sections of the Uniform Guidance, found what pertains to you, and utilized all the resources at your fingertips, you are ready to comply. Understanding all the elements is important to using these guidelines to benefit you. That is how you “win.” It is important for you to understand and interpret the guidelines correctly. Because the guidelines are new, it would not be unlikely to have a federal or state auditor reviewing your indirect cost rate proposal who might not be 100% familiar with all the guidelines. This is important to understand, because this is where it is possible to “lose.” Knowledge is power, and it could not be truer in this case. If you know the guidelines, and have complied with them, then you are safe; and you will know if an auditor tries to throw something out incorrectly, because they do not completely understand the rules.
If you know and are comfortable with the fact that everyone—and I mean everyone— has varying degrees of understanding of the Uniform Guidance, you will be able to make sure that you are maximizing your reimbursement by not allowing items to be thrown out or questioned because of a misinterpretation or a misunderstanding. You have the knowledge to dispute a finding and to educate a reviewer on what you know is true to the rules of compliance.
If we play our cards right, as we move towards compliance with the new Uniform Guidance in full effect, we will find that it can actually result in a streamlined approach, a long-term reduction in the cost of compliance, and a maximized reimbursement of the indirect costs, as long as we follow the rules of the game.
WINNING THE GAME OF COMPLIANCE
Grantscase.com - this is a website dedicated to providing free resources for all aspects of the grants lifecycle—from OMB training videos, to whitepapers, to a digital or physical slider that has the whole 2 CFR Part 200 Uniform Guidance condensed into an easy-to-use slider that helps you navigate through the Guidance and where to find things.
Overheadparadigmshift.com - this is a website dedicated to overhead and indirect cost references and resources. The website is dedicated to shifting your thinking about overhead and the importance of calculating your true cost.
CFO.gov/cofar/ - COFAR (Council of Financial Assistance Reform) was an integral part in the implementation of the Uniform Guidance, and the resources on this site will help you with OMB training and direct you to blog related to the Uniform Guidance.
Capture Magazine - this magazine includes articles and resources relating to all issues around true cost and industry information to provide insight into the process.
ICRP Checklist - a checklist to ensure that you are following all the necessary steps to prepare an indirect cost rate proposal.
Cost Plan Checklist - a checklist to ensure that you are following all the necessary steps to prepare a cost allocation plan.
CostTree Academy Q & A videos - a list, in video form, of questions asked by agencies and people like you answered by CostTree’s industry experts.
Using these resources will put you in a position to move closer to compliance. Every bit of knowledge you have will allow you to save time in the future and reduce the long-term cost of compliance.
moving towards compliance