What is the purpose of an Incident Cost Form?

The purpose of an Incident Cost Form is fundamentally to formally document all costs associated with managing an incident. This form serves as a comprehensive record that tracks expenses incurred during the response and recovery phases, including labor, equipment, supplies, and any contractual services. Accurate documentation is essential for accountability, financial management, and reimbursement processes. This allows agencies to have clear visibility into the financial implications of an incident, which is crucial for maintaining budgetary control and for reporting purposes.

While summarizing an incident's overall impact, providing budget forecasts for future incidents, and assessing the effectiveness of incident strategies are important aspects of incident management, they do not specifically pertain to the primary function of the Incident Cost Form. The form is designed specifically to capture and detail the actual costs incurred, making it an indispensable tool for accurate financial reporting and analysis in incident management contexts.