A subaward is for the purpose of carrying out a percentage of the Federal award and creates a Federal economic help relationship with a subrecipient. Begin to see the definition of Subaward
The subsequent is a summary of definitions of important conditions usually Utilized in two CFR portion 200. Definitions found in Federal statutes or regulations that use to unique applications get priority around the following definitions.
The total expense of a Federal award is the sum on the allowable immediate and allocable indirect expenditures minus any applicable credits
means People prices incurred for a typical or joint purpose benefitting more than one Price tag aim instead of conveniently assignable to the expense targets especially benefitted, without work disproportionate to the effects obtained. It could be important to ascertain several pools of indirect costs to facilitate equitable distribution of oblique costs to the cost objectives served.
(6) Payments for allowable costs have to not be withheld at any time through the period of efficiency Until required by Federal statute, rules, or in a single of the following scenarios:
A quick summary with the statutory or regulatory necessities of This system and its supposed outcome. The place suitable, This system description, purpose, objectives, and efficiency measurement must align Together with the strategic aims and goals in the Federal company's general performance plan and will help the Federal agency's performance measurement, administration, customer experience initiatives, and reporting as needed by Portion six of OMB Round A-eleven;
means an award where the Federal agency, In step with specific statutory authority that allows the company to work out judgment (“discretion”), selects the recipient or the amount of Federal funding awarded via a aggressive course of action or based here upon benefit of proposals. A discretionary award may very well be chosen on a non-aggressive foundation, as correct.
usually means a formal announcement of the availability of Federal funding through a economical support plan from a Federal company. The recognize of funding option supplies information on the award, such as that's suitable to apply, the analysis requirements for selecting a receiver or subrecipient, the required elements of the application, and the way to submit the appliance.
It is a procurement strategy utilised when circumstances are not suitable for using sealed bids. This procurement strategy may perhaps result in both a set-price tag or Price tag-reimbursement agreement. They are awarded in accordance with the following specifications:
(four) Solve audit findings specifically related to the subaward. Having said that, the move-by means of entity is not really to blame for resolving cross-reducing audit findings that use for the subaward as well as other Federal awards or subawards. If a subrecipient incorporates a recent One Audit report and has not been excluded from getting Federal funding (meaning, hasn't been debarred or suspended), the pass-by entity may possibly depend on the subrecipient's cognizant company for audit or oversight agency for audit to perform audit adhere to-up and make administration decisions relevant to cross-cutting audit results in accordance with area § two hundred.
A price is realistic if it doesn't exceed an total that a prudent individual would incur underneath the circumstances prevailing when the decision was designed to incur the fee. In determining the reasonableness of the given Price, thought needs to be presented to the following:
The prior approval specifications with the actions explained in paragraph (g) of this portion are automatically waived for Federal awards that aid investigation Unless of course stipulated during the Federal agency's restrictions or terms and conditions from the Federal award.
The combination greenback volume of the procurement transaction is bigger in comparison to the micro-invest in threshold but does not exceed the simplified acquisition threshold. If simplified acquisition techniques are used, cost or rate quotations has to be attained from an ample quantity of capable resources.
Payment for personal products and services consists of all remuneration, paid out at this time or accrued, for solutions of personnel rendered in the duration of functionality under the Federal award, which includes but not automatically limited to wages and salaries.