It’s often the question of the day in an organization that is a recipient or subrecipient of federal grant funds—"Can we charge this to our federal grant?” Unfortunately, the answer is often—"It depends!”
That’s because answering the question frequently involves burrowing into a set of federal regulations known as the “Cost Principles.” And that’s just what they are—principles to be applied to the particular facts and circumstances surrounding incurrence of grant expenses. When the U.S. Office of Management and Budget (OMB) issued the current version of the principles, they made allowability statements about a few dozen types of costs that they expected many recipients and subrecipients might encounter in the course of administering federal awards. But OMB could not anticipate every type of cost that might come up in hundreds of federal grant programs and among thousands of grant awards. So awardees must often make their own decisions about charging costs. And they have more to consider—like how to document their decisions.
This webinar addresses fundamentals of grant cost allowability from a recipient and subrecipient perspective. You’ll gain understanding of key concepts such as:
- The broad applicability of the cost principles:
- The real distinction between direct and indirect costs;
- What constitutes total recovery under a federal award;
- The general tests of allowability that always apply to every charging decision;
- How to interpret cost “reasonableness”;
- How to demonstrate cost allocability;
- Allowability of the “big ticket” items that appear in most grant budgets;
- Cost items that awarding agencies view as vulnerable to mischarging;
- What kinds of allowability documentation will likely be reviewed by auditors;
This session is both an excellent introduction and a detailed refresher for staff of recipient and subrecipient organizations. Join Bob Lloyd, a respected authority of policies and practices affecting federal awards and Principal of Federal Fund Management Advisor TM, for this informative session.
WHO SHOULD ATTEND:
- Executives
- Financial officers
- Accounting staff
- Grant and contract managers
- Sponsored projects administrators
- Grant project directors
- Principal investigators
- Internal auditors
- External auditors
Hand-out Materials:
Attendees will receive presentation slides as well as access to background materials.
Allowable Charges
The costs of webinars sponsored by Federal Fund Management Advisor™ are allowable charges to your federal grants and subgrants. The cost principles issued by OMB under its uniform guidance (and applicable to all types of awardees) state, “The cost of training and education for employee development is allowable” (2 CFR 200.472).
Attend this Live Webinar and Earn up to 2.4 CPE Credits