Stevens questions Beacon contract budget changes and inflation
Stevens asks how Beacon contracts have changed to account for inflation and rising costs since 2017. Asherall explains DYCD has honored approved indirect cost rates and is now examining true operating costs for future funding allocations.
Since 2017 procurement, how have Beacon's contracts budget changed from accounting for inflation wages and raising operation costs?
So we have, over the years we've worked with the indirect costs have been wages and indirect expenses have been allocated to the budgets.
For non-federally funded ICR rates, DYCD has honored the city's approved ICR rate.
For any of the contracts.
And then for federally funded programs, we've complied with the regulations and negotiated indirect cost rates if they exist.
And so we've been able to do, you know,
address those pieces in that way.
But again, we are looking, it is a 10-year-old contract and budget, and so we are intentionally looking at the funding allocations and the true cost of operating a program.
And so we hope to continue those conversations and have stakeholder engagement, work with our oversight organizations, OMB, City Hall, Council, to help inform
what the allocation should look like.