Allowable Cost definition

Allowable Cost means a cost that complies with all legal requirements that apply to a particular federal education program, including statutes, regulations, guidance, applications, and approved grant awards.

Allowable Cost means an expenditure which meets the test of the Uniform Guidance (2CFR 200) (see “I. Federal Compliance”). The most significant factors affecting allowability of cost are;

Allowable Cost means costs that are allowable under 2 CFR Part 200, Subpart E, "Cost Principles."

Examples of Allowable Cost in a sentence

• The State Maximum Allowable Cost (SMAC) is established for certain products which have a Food and Drug Administration (FDA) approved generic equivalent.

• Reimbursement for specialty drugs not typically dispensed by a retail community pharmacy and dispensed primarily by delivery, including clotting factor for hemophilia, shall be set as a Specialty Pharmaceutical Allowable Cost (SPAC).

• The Contractor shall ensure a payment request includes documentation appropriate to the type of payment request in accordance with the payment clause, contract financing clause, or Federal Acquisition Regulation 52.216-7, Allowable Cost and Payment, as applicable.

• Maximum Allowable Cost (MAC) List ±A list of Multi-source drugs that are reimbursed at an upper limit per unit price.

More Definitions of Allowable Cost

Allowable Cost means an expenditure which meets the test of the appropriate Executive Office of the President of the United States’ Office of Management and Budget Circular. The most significant factors which determine whether a cost is allowable are the extent to which the cost is:

Allowable Cost means costs that are allowable under 2 CFR 200 Subpart E, as applicable.

Allowable Cost means a cost allowable to a project if:

Allowable Cost means the facility's actual cost after appropriate adjustments as required by medical assistance regulations.

Allowable Cost means costs that are allowable under 2 CFR Part 225, “Cost Principles for States, Local Governments, and Indian Tribes”, 2 CFR Part 220, “Cost Principles for Educational Institutions”, and 2 CFR Part 230, “Cost Principles for Non-Profit Organizations”, as applicable, and their Attachments, and 2 CFR Parts 200.420-475, as applicable.

Allowable Cost means an expenditure which meets the test of the appropriate OMB Circular (see “III. Federal Compliance”). The most significant factors affecting allowability of cost are; 1) they must be necessary and reasonable, 2) they must be allocable, 3) they must be authorized or not prohibited under state or local laws and regulations, and 4) they must be adequately documented.

Allowable Cost means the program's actual and reasonable cost after appropriate adjustments for nonallowable costs, income, offsets, and limitations.