eCFR :: 2 CFR Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards

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Any other agency or instrumentality of a multi-, regional, or intra-State or local government. The term “loan guarantee commitment” means a binding agreement by a Federal awarding agency to make a loan guarantee when specified conditions are fulfilled by the borrower, the lender, or any other party to the guarantee agreement. Applicable discounts are only those discounts where it is both advantageous and within the agency’s control to claim them. Is distinguished from a cooperative agreement in https://www.bookstime.com/ that it does not provide for substantial involvement of the Federal awarding agency in carrying out the activity contemplated by the Federal award. “Other clusters,” as described in the definition of cluster of programs in this section. When no Assistance Listings Number is assigned, all Federal awards from the same agency made for the same purpose must be combined and considered one program. See also definitions of Federal financial assistance, grant agreement, and cooperative agreement.

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Similar types of costs have been accounted for consistently and the Federal Government will be notified of any accounting changes that would affect the predetermined rate. A copy of the financial data (financial statements, comprehensive annual financial report, executive budgets, accounting reports, etc.) upon which the rate is based. Adjustments resulting from the use of unaudited data will be recognized, where appropriate, by the Federal cognizant agency for indirect costs in a subsequent proposal. Except where a special indirect cost rate is required in accordance with paragraph of this Appendix, the separate groupings of indirect costs allocated to each major function must be aggregated and treated as a common pool for that function. The costs in the common pool must then be distributed to individual Federal awards included in that function by use of a single indirect cost rate. Under this method, indirect costs consist exclusively of general administration and general expenses.

Are unallowable because they are clearly not allocable to Federal awards. These adjustments or refunds will be made regardless of the type of rate negotiated . To the extent that problems are encountered among the Federal agencies in connection with the negotiation and approval process, OMB will lend assistance as required to resolve such problems in a timely manner. Cost objective means a function, organizational subdivision, contract, Federal award, or other work unit cost principle for which cost data are desired and for which provision is made to accumulate and measure the cost of processes, projects, jobs and capitalized projects. Depreciation on buildings used for more than one function, and on capital improvements and equipment used in such buildings, must be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms.

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The remaining sections of this Appendix summarize the provisions of Subpart E of 45 CFR Part 95. Provisional and final rates must be negotiated where neither predetermined nor fixed rates are appropriate. Predetermined or fixed rates may replace provisional rates at any time prior to the close of the organization’s fiscal year. If that event does not occur, a final rate will be established and upward or downward adjustments will be made based on the actual allowable costs incurred for the period involved. If an institution elects to accept a threshold rate as defined in subsection a of this section, it is not required to perform a detailed analysis of its administrative costs.

• When audit findings were fully corrected, the summary schedule need only list the audit findings and state that corrective action was taken.
• Organized research units include such units as institutes, study centers, and research centers.
• Fringe benefits include, but are not limited to, the costs of leave (vacation, family-related, sick or military), employee insurance, pensions, and unemployment benefit plans.
• Announcements must clearly identify the types of entities that are eligible to apply.
• Perform testing of internal control as planned in paragraph of this section.
• Indirect (facilities & administrative (F&A)) costs means those costs incurred for a common or joint purpose benefitting more than one cost objective, and not readily assignable to the cost objectives specifically benefitted, without effort disproportionate to the results achieved.