For organizations that support Federal grant-funded research, being able to accurately track the Facilities and Administrative (F&A) impact of who is doing research and where is a major financial motivator. F&A costs are recovered from the funding agency in recognition of the real and unallocable costs incurred by the organization when hosting a sponsored activity. Typically, F&A is recovered at a flat rate against total modified direct costs anticipated in connection with the sponsored activity. The default rate is negotiated between the organization and a cognizant federal agency every 3 to 5 years
InVision has an optional feature for creating and tracking the ICR information needed to justify the maximum recovery of F&A costs through accurate data. This feature has been designed specifically around the needs of Universities and other research organizations, and acknowledges the realities of data management in an imperfect world.
A high level overview of the conceptual information model can be seen below, which illustrates how multiple Budgets, Principal Investigators, and Functional Uses can be added to an Org Allocation independent from one another