DCAA recently released Version 1.04 of the ICE Model that utilizes Microsoft Power Query to prepare incurred cost proposals. For government contractors preparing annual incurred cost submissions with Microsoft Power Query, this update should be used in replacement of the previous version released. Both the April 2026 Power Query version and the May 2019 Visual Basic version remain available, but each version carries different considerations for preparation, review, and submission through the Contractor Submission Portal.
The updated Power Query version is intended to improve compatibility with contract information such as contract ceiling issues on Schedule I. The instructions have been revised to provide better clarification of information required to properly run the power query version. The original Visual Basic version remains available, but contractors using this version need to be aware of a specific restriction in the Contractor Submission Portal. Files prepared in the Visual Basic version must be saved as .xls or .xlsx before uploading to the Contractor Submission Portal. The Contractor Submission Portal will not accept .xlsm macro files.
Why the Update Matters Now
For contractors with a fiscal year ending December 31, incurred cost submissions are due by June 30. FAR 52.216-7 requires an adequate final indirect cost rate proposal within the six-month period following the end of the contractor’s fiscal year, unless an extension is requested and granted in writing.
That timing matters. Even a minor issue with the model, source data, or the upload file format can create unnecessary problems as the submission deadline approaches. Contractors should not wait until the final submission stage to determine whether the Power Query version works with their internal process.
Version 1.04 addresses prior issues in the original Power Query model released last year, including contract ceiling information on Schedule I, along with updates to the instructions intended to clarify the information needed to properly run the model. Contractors who tested or used an earlier Power Query version of the ICE Model should utilize the most recent version 1.04 when submitting to the Contractor Submission Portal.
Avoiding Preventable Submission Issues
The ICE Model helps contractors compile incurred cost schedules in accordance with FAR 52.216-7, but the model does not resolve underlying data, reconciliation, or documentation issues. Contractors still need to make sure the final submission aligns with their accounting records, indirect rate calculations, contract activity, billing data, and supporting documentation.
This is especially important for contractors transitioning from the Visual Basic version to the Power Query version. The change may affect how teams gather source data, review generated schedules, verify indirect rate information, and confirm that contract-level data is complete. Contractors should also avoid changing the Microsoft Power Query model’s structure, queries, formulas, worksheets, column headings, or columns, as these changes can affect how the file functions and may yield inaccurate results.
Plan Before the Submission Deadline
The release of Version 1.04 should prompt contractors to confirm which ICE Model version they plan to use, review the updated instructions, and allow enough time to test the end result before the final submission date. Waiting until the deadline approaches can leave little time to address model issues, reconcile schedule differences, or correct file format problems.
Government contractors with multiple cost-type contracts, complex indirect rate structures, significant subcontractor costs, billing adjustments, or prior-year audit findings should be especially careful. These areas can already require additional review during incurred cost preparation, and a model change can add another layer of complexity if the submission process is not planned in advance.
Support Before Submission Can Reduce Avoidable Issues
Redstone Government Consulting supports government contractors through the incurred cost submission process by helping prepare and review incurred cost proposals before they are submitted. This support includes reconciling claimed costs to accounting records, identifying potential adequacy issues, and helping contractors respond to questions or findings. As contractors review the updated ICE Model and prepare for upcoming deadlines, our team can help identify potential issues before submission and support the documentation and review process needed for incurred cost activity.
Kimberly is a Managing Consultant with Redstone Government Consulting, Inc. based in our Huntsville, Alabama office. Her areas of expertise include working with government contract accounting and contracting issues and audit. Kimberly specializes in assisting government contractors in the unique accounting, pricing, proposal preparation, and compliance requirements of the U.S. Government. Professional Experience Kimberly’s experience includes preparation of complex incurred cost submissions, compliant accounting infrastructure, preparation and evaluation of policies and procedures, contract closeout process, developing provisional indirect rate budgets, monitoring actual indirect rates, and providing audit support to government contractors. Her primary focus is working pro-actively in preparing small contractors for government contract challenges as well as resolving DCAA issues. Kimberly has almost ten years of experience assisting clients with Federal Acquisition Regulations (FAR) and Cost Accounting Standards (CAS) best practices and compliance. She works with government contractors to comply with critical Federal Acquisition Regulations (FAR) requirements related to cost accounting and proposals. Her sundry experience with various government contract issues and successful resolutions provides insight that benefits our clients. Prior to joining Redstone Government Consulting, Inc., Kimberly specialized in assurance and advisory services with a regional firm (Jackson Thornton), working as a staff accountant conducting compilations and reviews, auditing financial statements and assisting with litigations. Education Kimberly earned a Bachelor of Science degree in Commerce and Business Administration from The University of Alabama in 2007. Affiliations National Contract Management Association Women in Defense