--Apple-Mail=_67E1E3F1-DE93-4897-AEDE-9CB978A38092 Content-Transfer-Encoding: quoted-printable Content-Type: text/plain; charset=utf-8 Hi Eve, See below the explanation. Let me know if you need any additional = information. Direct labour overhead is calculated Direct labour x 55% 20887.01$ x 55% =3D11487.86$ =20 Add up every cost category and direct labour previously calculated 20887.01$ + 11487.86$ =3D 32374.87$ In TheKey's case, they only claimed direct labour. Il est important de mentionner que le direct labour overhead (55%) est = aussi consid=C3=A9r=C3=A9 comme un co=C3=BBt admissible. C'est donc = pourquoi le montant de 11487.86$ est additionn=C3=A9 au total des co=C3=BB= ts admissibles =C3=A0 l'=C3=A9tape 2. =20 Multiply previously obtained amount by overhead ratio (15%) 32374.87$ x 15% =3D 4856.23$ > On Sep 4, 2025, at 8:50=E2=80=AFPM, eve.malishevski@thekey.com wrote: >=20 > Hi Meighen, > =20 > Thank you for the update! > Please keep us posted as we are looking to resolve this by Sep 9th EOD = at the latest. > =20 > Kind regards, > Eve Malishevski > Assistant Manager, Audit & Financial Reporting | TheKey > Mobile: 305.528.8471 > =20 > > =20 > From: Meighen Fitzpatrick >=20 > Sent: Thursday, September 4, 2025 5:59 PM > To: eve.malishevski@thekey.com > Cc: Timothy Thomas >; Wethned = Mertilien >; sara.stuhlsatz@thekey.com = > Subject: Re: envisAGE Project - Accounting Treatment > Importance: High > =20 > Hi Eve, > =20 > Sorry I sent your question to our account manager but did not receive = a response. I just followed up with him and should have an answer for = you shortly. > =20 > Thanks! > Meighen >=20 >=20 >> On Sep 4, 2025, at 5:01=E2=80=AFPM, eve.malishevski@thekey.com = wrote: >> =20 >> Hi team, >> =20 >> Thank you for your continued support! >> We are reaching out in hopes that you can help us understand how the = overhead amount was calculated. Based on the support provided, we are = not arriving at the same result: >> =20 >> Total Costs for Claim #1 >> $20,887.01 >> OH Percentage >> 15% >> OH Amount (Calculated) >> $ 3,133.05 >> OH Portion per Tim / Ops >> $ 4,856.23 >> Difference >> $ (1,723.18) >> =20 >> For quick reference, please see highlighting legend below: >> =20 >> Per claim submission excel file, first screenshot below >> Amount provided by Tim/Ops, second screenshot below >> Amount calculated by Accounting based on assumptions provided =E2=80=93= total labor costs submitted for claim x program approved percentage of = overhead. >> Difference figure is calculated by subtracting overhead provided by = Tim from overhead figure calculated by Accounting based on support = provided. >> =20 >> If at all possible, we need to make sure the amount received as = government grant award is fully supported by claim paperwork for audit = purposes. >> =20 >> >> =20 >> >> =20 >> Let us know if you would like to schedule a quick call to go over = this in more detail. >> =20 >> Kind regards, >> Eve Malishevski >> Assistant Manager, Audit