|Date Issued:||5/29/2007||Date Last Updated:||5/29/2007|
|Bulletin Name:||Fringe Benefit & Indirect Cost Assessment 2007- 2008|
State Fiscal Year 2007-08 rates:
|Federal Funds Indirect Rates:||
The Division of the Budget has provided OSC with agency-specific federal indirect cost rates that will be used to produce the quarterly Fringe Benefit/Indirect Cost Invoice (CTL610) report. The rates can be obtained by contacting your agency budget examiner.
|Full Payment:||All state departments and agencies are required to pay the full fringe benefit and indirect cost shown on OSC invoices. Payments at less than the full rate require specific legislation, regulations or an approved waiver from the Division of the Budget.
In some cases, Federal Grants allow greater Indirect Cost recoveries than that billed on the CTL610. When this occurs, Agencies must use Object Code 35320 (Refunds & Reimbursements) for that portion of the indirect cost payment that exceeds the assessed amount.
|Document Processing:||Journal Vouchers, using batch type FBP, may be entered and released at agency terminals provided they are mailed, with an error-free copy of the batch control list (BCL), within 48 hours after they are entered to:
|JV Coding:||Charge lines on the JV should be coded as follows:
Definitions, legal authority, detail billing and payment procedures are outlined in Section 6.0200 of the NYS Accounting System User Procedure Manual - Controls and Special Procedures (Volume XI), published on OSC's web site (www.osc.state.ny.us) under "Comptroller's News for State Agencies".
Please direct questions to the Bureau of Accounting Operations, Revenue Processing Section: