When you hire a builder in Cambridgeshire for a project outside of their normal scope of work, the price of the construction contract includes the direct cost of the project, plus the margin imposed by the contractors in general. This cost objective includes the costs of field supervision, as well as any program, function, activity, award, organizational subdivision, contract or work unit for which cost data are requested and for which measures are taken to accumulate and measure the cost of processes, products, jobs, capital projects, etc. If a plan review indicates that certain additional information is needed, it can be routinely requested in future plan submissions. Otherwise, the auditor must audit the major programs identified and any additional federal programs with spent federal grants that comprise at least 40 percent (0.40) of the total federal grants spent.
The non-federal entity may receive compensation for the use of its buildings, capital improvements, equipment and software projects capitalized in accordance with the GAAP, provided that they are used and needed in the activities of the non-federal entity and are properly allocated to federal awards. Contingency is part of a budget estimate of future costs (usually of large construction projects, IT systems or other elements approved by the contracting federal agency) that is associated with possible events or conditions derived from causes whose precise outcome is indeterminable at the time of estimation. This contingency will probably generate additional costs for the approved activity or project. Prior approval of exchange rate fluctuations is only required when it results in the need for additional federal funding or when it implies the need to significantly reduce the scope of the project.
If applicants are allowed to nominate suggested reviewers of their applications or suggest those that they consider inappropriate due to a conflict of interest, that information should be included in this section. The final rate distribution basis for each major function (organized research, instruction, etc.) should also be included. To obtain income from the program, a non-federal entity must not use equipment purchased with the federal award to provide services for a lower rate than that charged by private companies for equivalent services unless specifically authorized by federal law. The amortization of buildings used for more than one function and capital improvements and equipment used in such buildings should be assigned to individual functions performed in each building on the basis of usable square feet of space.
Prepayments to a non-federal entity must be limited to minimum amounts needed and scheduled according to actual and immediate cash needs to carry out purpose of approved program or project. In addition to basic considerations about eligibility of costs highlighted in this subtitle, other subheadings describe special considerations and requirements applicable to states, local governments, indigenous tribes and IHEs. The base period should normally coincide with fiscal year of government unit but should be selected in such a way as to avoid inequalities in allocation of costs. For actual costs incurred to be allowed they must comply with cost principles and other requirements; be necessary and reasonable; and be able to be verified from records of non-federal entity. Only mandatory cost sharing or cost sharing specifically committed in project budget should be included in organized research base to calculate indirect cost rate (F&A) or be reflected in any indirect cost allocation.
