Modified Total Direct Costs definition

Modified Total Direct Costs. (MTDC) shall mean all direct salaries and wages, applicable fringe benefits, materials and supplies, services, travel, and up to the first $25,000 of each subaward (regardless of the period of performance of the subawards under the award). MTDC excludes equipment, capital expenditures, charges for patient care, rental costs, tuition remission, scholarships and fellowships, participant support costs and the portion of each subaward in excess of $25,000.
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Modified Total Direct Costs means all direct salaries and wages, applicable fringe benefits, materials and supplies, services, travel, and up to the first $25,000 of each subaward (regardless of the period of performance of the subawards under the award). MTDC excludes equipment, capital expenditures, and rental costs. Any amendments to this Agreement’s Budget must first be determined by the Local Government as consistent with its CDBG contract with Commerce and then approved in writing by the Local Government and the Subrecipient.
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Modified Total Direct Costs means all direct salaries and wages, applicable fringe benefits, materials and supplies, services, travel, and up to the first $25,000 of each subaward (regardless of the period of performance of the subawards under the award). MTDC excludes equipment, capital expenditures, and rental costs.Any amendments to this Agreement’s Budget must first be determined by the Local Government as consistent with its CDBG contract and then approved in writing by the Local Government and the Subrecipient.V. PAYMENTThe Local Government shall, in accordance with the payment procedures outlined in the CDBG Management Handbook, Financial Management Section, pay for all allowable expenses agreed upon by the parties to complete the Scope of Service.Payment under this Agreement will be based on billings, supported by appropriate documentation of costs actually incurred and work that is inspected and approved. It is expressly understood and agreed upon that the total amount to be paid by the Local Government under this agreement shall not exceed $344,004.VI. PERFORMANCE MONITORINGThe Local Government will monitor the performance of the Subrecipient by tracking project progress, reviewing payment requests for applicable costs, managing the timely pass-through of any CDBG funds, overseeing compliance with CDBG requirements, and ensuring recordkeeping and audit requirements are met. Substandard performance as determined by the Local Government will constitute noncompliance with this Agreement.If action to correct such substandard performance is not taken by the Subrecipient within a reasonable period of time after being notified by the Local Government, contract suspension or termination procedures will be initiated.VII. PROJECT/PROPERTY REQUIREMENTSThe requirements for real property improved in whole or in part with CDBG funds in excess of$25,000 are governed by 24 CFR 570.505. These requirements shall apply from the date CDBG funds are first spent for the property until five years after closeout of the grant.The Subrecipient agrees to continue the operation of the approved programs at this location, meeting the required National Objective, for a minimum of five years after closeout of the grant. The Subrecipient also agrees, to maintain the improvements made to the building for the same term. If the Subrecipient sells or transfers title to the property in any way during the five year term, such action could require the Subrecipient to reimburse the Local Government for the Project...
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Examples of Modified Total Direct Costs in a sentence

  • Cognizance is determined by the agency which provides the highest amount of direct federal funding;State Negotiated – select if your rate has been negotiated by a state agency or other pass through entity; or10% of MTDC – select if your organization qualifies for & elects to use the 10% de Minimus rate of Modified Total Direct Costs (MTDC).

  • If your organization does not have a current negotiated rate (including provisional rate) and elects to use the de minimis rate, your application must clearly state you intend to use the de minimis rate of 10% of Modified Total Direct Costs (MTDC), as defined at 2 CFR 200.1. Costs must be consistently charged as either indirect or direct costs but may not be double charged or inconsistently charged as both, as described in 2 CFR 200.403.

  • If you have never received a Federally negotiated indirect cost rate and elect to use the de minimis rate, your application must clearly state you intend to use the de minimis rate of 10% of Modified Total Direct Costs (MTDC).

  • The maximum reimbursement amount allowable for indirect costs is ten percent (10%) of the Contractor’s Modified Total Direct Costs (MTDC), excluding in-kind contributions and nonexpendable equipment.

  • Applicants may elect to use an amount up to the ten percent (10%) de Minimis rate of their Modified Total Direct Costs (MTDC) base.

  • Most recent Negotiated Indirect Cost Rate Agreement (NICRA), if applicable, or a de minimis rate calculation of Modified Total Direct Costs (MTDC) if the applicant is eligible and elects to use the de minimis rate.

  • Modified Total Direct Costs excludes equipment, capital expenditures, rental costs, scholarships and fellowships, among others.

  • A breakdown of the Applicant’s Modified Total Direct Costs (MTDC) must be included and submitted with the proposed budget.

  • Additional information on calculating Modified Total Direct Costs can be found at 2 CFR 200 Subpart A Acronyms and Definitions (200.0 and 200.1).

  • De minimis Rate – In place of calculating a rate, a de minimis rate of 10% of the Modified Total Direct Costs (MTDC) can be used.

Related to Modified Total Direct Costs

  • Project Costs means all allowable costs, as set forth in the applicable Federal cost principles, incurred by a recipient and the value of the contribu- tions made by third parties in accom- plishing the objectives of the award during the project period.

  • NCZ Examined Project means any Generator or UDR project that is not exempt pursuant to 23.4.5.7.8 and either (i) is in a Class Year on the date the Commission accepts the first ICAP Demand Curve to apply to a Mitigated Capacity Zone or (ii) meets the criteria specified in 23.4.5.7.3(II). An NCZ Examined Project may be at any phase of development or in operation or an Installed Capacity Supplier.For purposes of Section 23.4.5 of this Attachment H, “Net CONE” shall mean the localized levelized embedded costs of a peaking unit in a Mitigated Capacity Zone, net of the likely projected annual Energy and Ancillary Services revenues of such unit, as determined in connection with establishing the Demand Curve for a Mitigated Capacity Zone pursuant to Section 5.14.1.2 of the Services Tariff, or as escalated as specified in Section 23.4.5.7 of Attachment H.

  • Soft Costs means the costs of professional work and fees, interim costs, financing fees and expenses, syndication costs, soft costs and Developer’s fees as shown in the Applicant’s properly completed UniApp, Section C - Uses of Funds. Soft Costs do not include operating or replacement reserves.

  • Budget means a resource, expressed in financial terms, proposed by the Board for the purpose of carrying out, for a specific period, any or all of the functions of the Trust.