Blog | Insights

April 2021

The McKelvey Group is hosting a LIVE WEBINAR covering all the basics on May 18!

Did you know?

• Incurred Cost Submissions (ICS) can also be called an Incurred Cost Proposal (ICP) or an Incurred Cost Electronically (ICE) Submission. ICE refers to the electronically submitted model.
• Incurred Cost Submissions are REQUIRED for ANY contractor performing on at least one contract or task with reimbursable costs. This includes Contracts/Tasks which are Cost Plus as well as Time & Material or Fixed Price with reimbursable CLINs.  The size of the Contract/Task does not matter. There is no threshold.
• It doesn’t matter if your company is the Prime or a Subcontractor.
• The Submission is due annually within six months of the end of the company’s fiscal year, and the Government does NOT initiate the process. They rely on the Contractor.
• The Government can go back 5 or more years asking for delinquent submissions.
• Submissions can take weeks to complete, depending on the complexity of the indirect rates, financials, and/or contracts/tasks.
• Payment of Invoices by the Government can be suspended until the submission is accepted.

Our one-hour webinar will cover each component of the submission including a list of the required information, an explanation of what the auditors are looking for, and an appreciation for how to ensure a fully compliant submission. Please join us!

Incurred Cost Submissions (Virtual Course/Live Webinar)

Tue May 18, 2021 @ 12pm – 1pm EDT

Registration $25