Treasurer's Newsletter

Treasurer's Newsletter

February Newsletter

2/7/2022

FY23 ICRP Release Notification

The Fiscal Year 2023 (FY23) Indirect Cost Rate Proposal (ICRP) is available for completion. 
The Ohio Department of Education has created the ICRP for Ohio’s Local Education Agencies (LEAs) who wish to recoup a portion of their indirect expenses, normally charged to an entities general fund, by charging a federal grant. Section 34 CFR 76.561 of EDGAR requires the Department to annually approve an indirect cost-rate plan for each LEA that requests one. An approved rate is required before any state or local government agencies can charge indirect costs to a federal grant.
Access the proposal workbook and instructions by clicking the links below.
Please submit the completed workbook by April 13, 2022. The Department will review proposals on a first-in, first-out basis. New for FY23:
  • Schedule B – Excluded Cost (Tab 7) in the workbook includes a new column for the Broadband Connectivity and Coronavirus Relief Fund (CRF) grants. This column was added to exclude costs resulting from the impact of CARES ACT program funding and their effect on indirect cost rates. The excluded costs apply only to the United States Treasury CARES ACT program, Assistance Listing Number (ALN) 21.019 (USAS Fund 510). Please note that programs that do not allow indirect costs will continue to be included as usual in the direct cost base.
  • Some schools and districts will notice a negative calculated indirect cost rate. The Department understands that COVID-related direct costs incurred in FY21 might cause this to occur. There is no need to notify the Office of Grants Management of a negative rate - just submit the completed workbook with all required documents for review. This process will not change.
The Office of Grants Management will notify schools and districts if additional action is required.

For assistance with completing the ICRP, please view the indirect cost video series.

Please e-mail questions to indirectcost@education.ohio.gov.

Upcoming February Newsletter topics:
  • Duns changing to UEI
  • Roles in the CCIP
  • Coding expenses when you have a Management Company