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Recommendation Details
Text of Recommendation
Direct UI to strengthen its monitoring procedures and internal control processes for applying indirect costs to federal awards. Updated procedures should ensure: • UI applies the appropriate indirect cost rates to cost transfers processed in a different fiscal year than the year in which UI originally incurred the expense. • UI appropriately accounts for equipment purchases as capital assets.
Recommendation Number
1.3
Recommendation Status
Open
Significant Recommendation
Yes
Recommendation Questioned Costs
$0
Recommendation Funds for Better Use
$0