By adminSo, what do we need to know about Indirect Cost Rates (IDC) as RAs? This topic can be tricky because, although we’re not deeply involved in the calculations or decisions that determine our IDC rate and its application, we’re still responsible for making sure our investigators are educated about what IDCs are, why they matter, and how they affect the bottom line for their research.
How PIs Experience IDC
For PIs who’ve been in the game for a long time, they probably already know the ins and outs of IDCs and have strong opinions about them. But newer investigators? They can be blindsided. They might see a budget of $100K, not realizing that half of that might be earmarked for IDC because the funding announcement specified total dollars awarded, not direct costs.
Research Integrators
As the integrators of the research business enterprise, it’s our job to understand the IDC framework and guide our PIs through the grant submission process with this knowledge, ensuring compliance and optimal use of funds. Then, upon award, we ensure that IDC rates are correctly charged, allocated, and reported at the end of the period.
Although our involvement includes many tactical steps, the strategic understanding necessary to operationalize this knowledge is crucial. In this video, we’ll cover an overview of IDC for RAs—what you need to know, the red flags to watch for, and the essential questions and considerations to effectively manage IDC as an RA.