| VOLUME: I |
POLICIES RELATED TO ACCOUNTING ADMINISTRATION |
| SUBJECT: |
Use of Object Codes for Unallowable Expenses for Indirect Cost Recovery Purposes |
| SOURCE: |
Office of Management and Budget (OMB) A-21 on Disallowances for Indirect Cost |
| DATE ISSUED: |
July 1992 |
| POLICY NO.: |
I - 280 |
| RATIONALE: |
To specify that specific university object codes must be utilized when paying for items that are unallowable expenses for the purpose of indirect cost recovery. The use of the object code is necessary to segregate the charges from the pool of expenditures utilized for indirect cost negotiations. |
| POLICY: |
The following specific object codes must be used when paying for services that are allowable from university funds:
- Trustee/Board of Visitors Travel
- IU Hospital Services
- Prizes and Awards
- Hospitality Expenses
|
| DEFINITIONS: |
Object Codes are the university Chart of Account codes for income, expenses and balance sheet items.
Indirect Cost Recovery is an analysis performed identifying expenditures made by the university in support of sponsored programs. The study results in reimbursement rates for use by agencies supporting contracts and grants at the university. |
| PROCEDURE REFERENCE: |
Utilization of these codes must be made on all financial transactions, i.e. requisitions and disbursement vouchers.
Copies of the object codes are available through the Financial Management Support department. |
| RESPONSIBLE ORGANIZATION: |
Financial Management Support |
