Common use of Salary Costs Clause in Contracts

Salary Costs. The term Salary Costs as used herein shall mean the hourly rate actually paid to all personnel engaged directly on the Project, as adjusted by an overall multiplier which consists of the following: 1) a fringe benefits factor; 2) an overhead factor; and, 3) an operating margin, as set forth on Exhibit B. Said Salary Costs are to be used only for time directly attributable to the Project. The fringe benefit and overhead factors shall be certified by an independent Certified Public Accountant in accordance with the Federal Acquisition Regulation ("FAR") guidelines. Said certification shall be dated within one hundred eighty (180) days after Consultant's most recently completed fiscal year. If the certification for the most recently completed fiscal year is not available at the time of contracting, the certification shall be provided when it becomes available; provided however, Consultant certifies that the rates and factors set forth herein are accurate, complete, and consistent with the FAR guidelines at the time of contracting. If applicable, Exhibit B(s) shall be modified to reflect any reduction in the FAR audited overhead and fringe benefit rates from the rates provided at the time of contracting. The modified Exhibit B shall be effective retroactive to the date of execution of the Agreement, and if applicable, the Consultant shall reimburse the County for any overbilling.

Salary Costs. The term Salary Costs as used herein shall mean the hourly rate actually paid to all personnel engaged directly on the Project, as adjusted by an overall multiplier which consists of the following: 1) a fringe benefits factor; 2) an overhead factor; and, and 3) an operating margin, margin as set forth on Exhibit B. Said Salary Costs are to be used only for time directly attributable to the Projectproject. The fringe benefit and overhead factors shall be certified by an independent Certified Public Accountant in accordance with the Federal Acquisition Regulation ("“FAR"”) guidelines. Said certification shall be dated within one hundred eighty (180) days after Consultant's ’s most recently completed fiscal year. If the certification for the most recently completed fiscal year is not available at the time of contracting, the certification shall be provided when it becomes available; provided however, Consultant certifies that the rates and factors set forth herein are accurate, complete, and consistent with the FAR guidelines at the time of contracting. If applicable, Exhibit B(s) B shall be modified to reflect any reduction in the FAR audited overhead and fringe benefit rates from the rates provided at the time of contracting. The modified Exhibit B shall be effective retroactive to the date of execution of the Agreement, and if applicable, the Consultant shall reimburse the County for any overbilling.