[PERIS-Listserv] Blended IDC Rate Calculations Update in MyFunding

[Peris Team]

[Graphical user interface, text, application    Description automatically generated]


In response to user feedback, the Facilities and Administrative (F&A)/indirect cost (IDC) rate calculations for blended rates have been updated in MyFunding.

MyFunding displays a blended (average) IDC rate when the budget period crosses fiscal years (FY) that have different IDC rates. The blended rate has been updated to calculate by months instead of by days to align with user spreadsheet calculations.

For example in Figure 1, Period 1 crosses fiscal years 2021 and 2022. The IDC rates for FY21 and FY22 are 56.5% and 59%, respectively. Therefore, the IDC rate for Period 1 is displayed as a blended (average) rate of 57.75%.

Figure 1.
[cid:image006.jpg at 01D7CB1E.5904C060]

Please note:  Blended rates are calculated automatically in MyFunding for internal purposes only to show the effective rate for the budget period. For all proposals submitted system-to-system<https://electronicresearch.pitt.edu/glossary-of-terms/#s> (i.e. via Grants.Gov), the SF-424<https://electronicresearch.pitt.edu/glossary-of-terms/#s> application Research & Related Budget will display the IDC rates separately as required by the agency (see Figure 2 for example).

Figure 2. Section H. of the SF-424 application
[cid:image007.jpg at 01D7CB1E.5904C060]








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