A Local Law to amend the administrative code of the city of New York, in relation to indirect costs of nonprofit city service contractors

Summary

This bill would require the City Chief Procurement Officer and the Director of Management and Budget, or another officer or agency head designated by the mayor, to develop a methodology for calculating indirect costs, such as facilities or administrative costs, associated with providing human services pursuant to city contracts. The methodology would provide for a minimum indirect cost reimbursement rate of 10 percent. The Office of Not-for-profit Organizations Services would be required to post the relevant methodology and related materials on their website. Contracting agencies would be required to reimburse indirect costs incurred by covered city service contractors in accordance with the required methodology.

Official summary of legislation · NYC Council