![]() For further information, please see the relevant section of the Financial Procedures manual (section 4.2). Pay costs met from Trust Funds are not covered by the ICC scheme. 158595 Random House Kernerman Websters College Dictionary, © 2010 K Dictionaries Ltd. Their ICC support charge is based on fee income, not staff costs. CJBS (Cambridge Judge Business School) has a devolved fee income and operational support arrangement with the University.ICE (Institute of Continuing Education) is charged at 12%.CISL (Cambridge Institute for Sustainability Leadership) is ICC exempt, however an indirect cost contribution is made, based on the latest RAM cost attribution rates (per £k pay and non-pay expenditure and space m2).The ADC Theatre receives credit for utility costs paid directly which offsets the NSI 28% ICC levy.All NHS- funded teaching staff are ICC exempt. (3) This procedure applies to any proportion of funding from an external partner for the purposes of research, project or consultancy.Veterinary clinical teaching staff in the Veterinary School are ICC exempt.For advice and guidance please contact your School (or equivalent) Finance Manager.įor 2022-23, the ICC target rate is 28% for all institutions, as agreed by RMC, with the following exceptions: This single, School-level target enables Schools, in coordination with Faculties and Departments, to determine exactly how the target will be achieved in any one year. The following codes attract ICC:ĮDAA: Departments Share of Research OverheadsĮZ00 to EZZZ: Departments Share of Non-Direct CostsĪn overhead recovery target is applied at School (or non-School institution) level based on pay costs incurred during the year. ![]() The charge is intended to recognise and recover part of the central and local infrastructure costs of non-Chest funded activity. It is levied on pay costs met from certain non-Chest sources of funds. ![]() Indirect costs include the materials and resources required for a company’s day-to-day operations. ![]() These are the costs that remain after direct costs have been calculated. The indirect cost charge (ICC) is an overhead charged, managed and reviewed by the RMC (Resource Management Committee). Indirect costs include those associated with sustaining and running a business in addition to those associated with creating a product. ![]()
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