Overhead Report definition
Examples of Overhead Report in a sentence
An Overhead Report establishes the ICR and is expressed as a percentage of the total direct labor incurred within the applicable accounting period.
The Consultant must submit an updated Audited Overhead Report if a new audit occurs during the life of the Contract.
Consultant’s awarded Agreements at or greater than MaineDOT’s simplified acquisition limits and or with cost-based payment methods must submit their complete Overhead Report package to the Office of Audit All ICR’s submitted must follow the cost principles of Part 31 of the Federal Acquisition Regulations (48 CFR) and the most current version of the AASHTO Uniform Audit & Accounting Guide.
A percentage rate established and/or approved by PACTS’ Office of Audit for a Consultant who has not established an indirect cost rate through an Audited Overhead Report.
Consultant must submit an updated Audited Overhead Report if a new audit occurs during the life of the Contract.
Consultant’s awarded Agreements at or greater than MaineDOT’s simplified acquisition limits and or with cost-based payment methods must submit their complete Overhead Report package to the Office of Audit within six months of the close of the applicable accounting period for each year the Consultant has an Agreement with MaineDOT.