On October 20, 2016, our Aronson LLC government contracting specialists Donna Dominguez and Aisha Mian hosted “Decoding Budgeted Indirect Rates,” where they provided tips, guidance, and best practices to help government contractors efficiently build their budgeted indirect rates for the upcoming year. As a follow up to this webinar, Donna and Aisha have prepared answers to a large number of attendee questions that we wanted to share. To watch the webinar, please visit this link.
When you’re working with the Virginia Department of Transportation, or a department of transportation in any other state, the indirect rates you are charging have to comply with certain rules and regulations. According to FAR Part 31.201-2, a cost is only allowable when it is reasonable, allocable, follows generally accepted accounting principles and practices appropriate to the circumstances, and is complaint with contract terms.