The Federal agency should ask for the transfer of records to its custody in the recipient or subrecipient when it establishes the records have very long-time period retention benefit.
(a) Bonding prices arise in the event the Federal agency requires assurance versus money reduction to itself or Other individuals as a result of an act or default in the receiver or subrecipient.
Initiate a one particular-time extension of your period of effectiveness by as much as 12 months Except if a number of on the circumstances outlined in paragraphs (g)(two)(i) as a result of (iii) of the area apply. Prior acceptance just isn't essential if a recipient is licensed while in the terms and conditions in the Federal award to initiate a a person-time extension. Nevertheless, the receiver will have to notify the Federal agency in creating With all the supporting justification along with a revised duration of efficiency a minimum of ten calendar times ahead of the conclusion in the period of performance.
(2) The Federal company need to notify OMB of any authorised deviations. The receiver or subrecipient may well notify OMB of any disputes with Federal agencies pertaining to the appliance of a federally negotiated oblique Expense price.
Payments built for expenses established for being unallowable by both the awarding Federal company, cognizant company for indirect charges, or move-as a result of entity need to be refunded with desire into the Federal Federal government.
suggests orders put for house and companies, contracts and subawards created, and equivalent transactions that need payment by a recipient or subrecipient under a Federal award that will bring about expenditures by a receiver or subrecipient underneath a Federal award.
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If a contract is subject to CAS, fees has to be allocated to that agreement according to the Price Accounting Specifications, which get precedence around the allocation provisions Within this part.
(iii) The depository would call for a median or minimum amount balance so high that it wouldn't be possible While using the expected Federal and non-Federal funds sources;
(i) The recipient or subrecipient has didn't adjust to the stipulations of your Federal award; or
When a proposal, strategy, or other computation have to be submitted towards the Federal Govt to sort The idea for negotiation of an indirect Price tag amount (or other standard premiums), then the 3-year retention period of time for its supporting documents begins from the date of submission.
(one) A proposal to establish a value allocation system or an oblique Expense price, irrespective of whether submitted to a Federal cognizant agency for indirect fees or preserved on file with the receiver, needs to be Qualified by the receiver utilizing the Certificate of Cost Allocation Strategy
Extra support fork out generally signifies overload compensation, subject matter to institutional payment procedures for services over and outside of IBS.
(1) The fees could possibly be noted with a funds or accrual basis given that the methodology is disclosed and continually applied.