Presentation on theme: "Those costs that can be identified specifically with a particular sponsored project."— Presentation transcript:
Those costs that can be identified specifically with a particular sponsored project
(also called F&A costs) Those costs that are incurred for common or joint objectives and therefore cannot be identified readily and specifically with a particular sponsored project
The main factors affecting allowability of costs are: 1. They must be reasonable 2. They must be allocable 3. They must be given consistent treatment in like circumstances 4. They must conform to any limitations or exclusions set forth in the OMB circulars and in the sponsored agreement
A cost may be reasonable if the nature of the good or service and the amount of it reflect the action that a prudent person would have taken under similar circumstances.
A cost is allocable to a specific sponsored agreement if the good or service is incurred soley to advance the objectives of the project, it benefits the project, and it is necessary for the overall operation of the project.
All Principal Investigators (PIs) in receipt of external funding have an overall responsibility for the fiscal management of those funds. Accountability for direct costing compliance with legal regulations, CNU policy, and sponsor requirements ultimately rests with the Principal Investigator (PI). The primary goal for the PI is to work with the Office of Sponsored Programs (OSP) to ensure all costs are allowable, allocable, and reasonable.
The Office of Sponsored Programs (OSP) provides support to the PI in maintaining compliance with the Direct Costing Policy. As a knowledgeable authority in the OMB Circulars, OSP is happy to assist the PI in determining whether a contemplated expense is allowable and therefore chargeable as a direct or indirect cost to the project. In further support of the PI and their compliance role, OSP will periodically review account expenses to determine if these charges are in compliance. If a potentially unallowable expense is found, OSP will contact the PI for justification of the expense and/or have the expense correctly re-assigned. Any adjustments of this nature should occur within 90 days.
Consultant costs Conference charges Honoraria Lab (servicing) fees Participant Support costs Publication costs Research-related materials and supplies Salaries & Fringe benefits (PI & direct staff) Stipends Student wages Travel costs (outside 26 mile radius of CNU) Vendor payments
Advertising Alcohol Audiovisual equipment & supplies Bad debt Books Clerical & office supplies (to include printers and supplies) Communications (local, cellular, & internet) Computers, tablets, and supplies (including software) Copiers, copies, service, & supplies Donations & contributions Depreciation and & usage costs Entertainment Equipment ($>5K, >1year of life) Fines & penalties Furniture Gifts of any kind Lobbying Maintenance & Repair Professional memberships/subscriptions Shipping & postage Food (inside a 26 mile radius of CNU)
If you are considering an expense that did not appear on our list or if you have any questions… Please contact the Office of Sponsored Programs (OSP) prior to making your purchase. Anne or Michelle Thank You