blog posts System Government Costing March Facts and Reminders Mar 16, 2023 9:00 amAccounting and BudgetingBuying and ContractsFY 23Every year, System Government Costing selects various service center funds for review. So, what does it look like to work with System Government Costing to complete and review rate calculations? Do you ever wonder how long a rate calculation review will last or how much time you will have to spend on the review?The answer all depends on when the last rate calculation for your fund was completed and how well it was documented. Federal Uniform Guidance requires rates be formally calculated every two years and the documentation maintained. When this has occurred, the most recently completed rate calculation within the last two years can be supplied directly to Government Costing. Government Costing would complete the review and send any questions or follow-up notes to the department. Once questions are answered and any needed supporting information provided, the formal approval process can be completed.If the most recently completed rate calculation was done more than two years ago, falling out of compliance, new rates must be calculated. Government Costing can work with the department in several ways to assist with getting the rate calculation completed. Some departments like to perform the calculation on their own and submit it once it is finished. Other departments would like to have weekly meetings to work on the rate calculation with Government Costing.The timeline for how long the rate calculation review process will take can also vary. Government Costing has worked vigorously with departments to get rate calculations reviewed and approved quickly! It can be completed within a couple of weeks from when the completed, supported, and compliant rate calculation was supplied to Government Costing for review. However, when a department is starting from scratch, has trouble providing appropriate supporting documentation, and only meets rarely with Government Costing to continue working on the rate calculation, the process can take much longer. Delays in response to our requests will also add additional time to the review process.Working with System Government Costing also does not have to be a one-way street. We are available for departments to reach out to during their rate calculation process. Departments can have their questions answered, receive information to help comply with the University's rate calculation policy, and receive training. This can be beneficial for departments and make the process much easier when their service center fund is selected for a formal review.ContactIf you have questions about Facilities & Administrative rates and how they are calculated feel free to consult System Government Costing's Who to Ask list to find an expert who can help.