The Office of the State Comptroller (OSC) and the Division of Budget analyzes the
actual fringe benefit costs on an annual basis. After the rate is computed, OSC notifies
all state agencies of the rate specific to a fiscal year and agency.
The 2022/23 rate for Federal is 63.72% and the State (Non Federal) is 63.95%. The
components for the 2022/23 rate are as follows:
Revenue is the basis for charging IFR assessments not expenditures.
Fringe benefits will continue to be assessed on expenditures. The IFR overhead assessement
will be charged on the revenue prior to any fringe benefit charges. As the revenue
is deposited to your account, the assessment will be charged. This charge is a direct
reduction to your account's cash balance. It DOES NOT affect your account's allocation.