Allowable Cost. Applicable Office of Management and Budget (OMB) 2 CFR Part 200, Subpart E – Cost Principles, agency program regulations, and the terms of grant must be followed in determining the reasonableness, allowability, and allocability of costs.
Allowable Cost. Applicable Office of Management and Budget (OMB) cost principles, FTA program regulations, and the terms of the FTA master agreement and grant agreements will be followed in determining the reasonableness, allowability, and allocability of costs. (2 C.F.R. 200) provides guidance on allowable costs for nonprofit organizations. Expenses such as indirect costs or payments to a self- insurance fund must be documented appropriately. Advertising and public relations is permitted for “specific purposes necessary to meet the requirements of the federal award.” Transit marketing and promotion are allowable project costs under these provisions, since transit ridership is the ultimate purpose of the federal grant.
Allowable Cost. A cost, as recorded on the Agreements Financial Plan (Long, Medium, and Short) forms, associated with an agreement, which meets the criteria for authorized expenditures specific in a cost principle methodology. Generally, it meets the cost principle methodology, and is a cost the parties to an agreement intend to charge, and must be: Reasonable for the performance of the award; Necessary and reasonable for proper and efficient performance and administration of the agreement; Consistently treated as either a direct or indirect cost; Generally, determined in accordance with generally accepted accounting principles (GAAP); Net of all applicable credits (that is, less any future rebates from the purchase of goods or services); Separate from a cost or from a cost-sharing/matching requirement of another Federal award or agreement, unless otherwise permitted by Federal law or regulation; Adequately documented; Authorized or not prohibited by Federal, State, or local laws and regulations; Compliant with limits or exclusions on types or amounts of costs, as set forth in relevant Federal laws, agreement terms and conditions, or other governing regulations (examples of such costs include: entertainment, alcohol, and taxes); and,Consistent with the agency’s and cooperator’s internal policies, regulations, and procedures that apply to both Federal awards or agreements and other cooperator activities.
Allowable Cost. For the performance of the work under this instrument, HUD shall reimburse the grantee for costs incurred (hereafter referred to as "allowable costs") which are determined by the Grant Officer to be allowable, allocable and reasonable in accordance with the following cost principles*: 4640.1 REV-1 APPENDIX 7