If our Indirect Cost Rate is applied by state fiscal year which runs from July to June, must submit the following year's rate?

Yes, we require that the indirect cost rate submitted with your application be valid until September 30th of the calendar year of the application cycle. So, if you rate expires in June, you will need to provide next year's rate. 

If you are a Tribal applicant, please see FAQ titled “If I am a Federally recognized Tribe, can I charge indirect costs?” for information on submitting a draft rate as submitted to the Department of Interior (DOI).

If you do not have an active rate at the time of award, you can opt to use the 15% de minimis rate instead. See FAQ titled “What if my agency does not have an approved indirect cost rate agreement or our rate is expired?” for more information.