Word: caseyed
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...This is regrettable because it is an arbitrary cap that replaces a standard accounting-audit-based system of determining the actual overhead it costs to produce the research that we do,” Casey said yesterday. “Establishing a uniform cap is not a policy based on sound reasoning...
...pending bill, congressional leaders set on Tuesday the provisional cap on indirect expenses—including administration, building upkeep, and utility costs—at 35 percent, marking an end to a nearly half-century-old tradition of negotiating these rates on an institution-by-institution basis, said Kevin Casey, Harvard’s senior director of federal and state relations...
...Casey estimated the average Harvard rate to be between 60 and 70 percent, though the rates vary for the three schools that receive Defense Department funding—Harvard Medical School, the School of Public Health, and the Faculty of Arts and Sciences (FAS)—to reflect more accurately the “actual cost of research” at each school, he said...
...Casey said it would be difficult to determine the exact financial effects of the congressional cap, as it is not yet clear precisely which expenses will be subject...
...Casey said that Harvard, as well as other universities, have lobbied against this provision both directly and through national associations of universities...