SGC - Government Costing: Managing Service Centers and Setting Service Rates
SGC - Government Costing: Managing Service Centers and Setting Service Rates
There is a newly update System-Wide policy supplement related to Service and Storeroom Activities (within Section 22 Self-Supporting/Revenue Generating Activities) with distinctive updates for the University of Illinois at Chicago. The Service and Storeroom Activities policy updates may required modification to your service center' current rate calculation practices. All UIC 3E fund managers are strongly encouraged by the University Government Costing Office to attend this training to be come familiar with the updates.
Storeroom and service centers (3E fund types) are established primarily to prove goods or services to other internal University departments. Each service center is its own business operation and must calculate and charge rates for the services and/or products they provide. Many of these 3E services activities charge federal and other sponsored projects, and as a result, the University must comply with Federal costing principles and State regulations for service centers.
The training session will summarize the various Federal and State regulations, outline methods service center managers should use when identifying costs, determining usage/base, identifying an over/under recovery, setting rates, and charging users.