Examples of Indirect cost in a sentence
Xxxxx Street, Suite 300 Seattle, WA 98102 Subject: Acceptance FYE 2022 ICR – CPA Report Dear Xxxxxx Xxxxxxxxx: We have accepted your firms FYE 2022 Indirect Cost Rate (ICR) of 177.39% of direct labor (rate includes 0.45% Facilities Capital Cost of Money) based on the “Independent CPA Report,” prepared by Xxxxxxxxx Xxxx, Inc.
Code § 8546.7, the A-E, Subconsultants, and COUNTY shall maintain all books, documents, papers, accounting records, Independent CPA Audited Indirect Cost Rate workpapers, and other evidence pertaining to the performance of the CONTRACT including, but not limited to, the costs of administering the CONTRACT.
Cost Proposals are subject to an audit or Certified Public Accountant Indirect Cost Audit Workpaper Review and are more fully described in ARTICLE IX, Audit Review Procedures.
In connection with performing the Workpaper Review, nothing came to our attention to indicate that the examination and supporting workpapers for the Indirect Cost Rate Audit and the related Accountant Report did not conform in all material respects to the aforementioned regulations and auditing standards.
Indirect Cost Rate: The Grantee’s acknowledged or approved Indirect Cost Rate (ICR) is contained within the ICR Agreement Letter, which is attached to this Contract and incorporated as Attachment F.