In the event the receiver or subrecipient retains title to your house, it ought to fork out the Federal company an volume calculated by multiplying The proportion from the Federal company's contribution to the first acquire (and charges of any improvements) by The present fair current market price of the house.
The subsequent is a listing of definitions of essential conditions routinely Employed in two CFR aspect 200. Definitions located in Federal statutes or regulations that apply to unique applications choose precedence in excess of the next definitions.
When conducting procurement transactions beneath a Federal award, a Point out or Indian Tribe ought to Adhere to the exact guidelines and strategies it takes advantage of for procurements with non-Federal cash. If these kinds of policies and procedures will not exist, States and Indian Tribes need to Keep to the procurement criteria in §§ 200.
(2) The time period “immediate loan obligation” means a binding agreement by a Federal company to create a immediate loan when specified situations are fulfilled because of the borrower.
Regardless of whether machines is obtained in part or its entirety under the Federal award, the recipient or subrecipient ought to take care of products (together with substitution equipment) making use of strategies that satisfy the subsequent needs:
The reasonableness and allocability of specified prices beneath Federal awards can be challenging to decide. To stay away from subsequent disallowance or dispute dependant on unreasonableness or nonallocability, the receiver may well request the prior prepared approval of the Federal agency (or, for indirect expenditures, the cognizant agency for indirect charges) prior to incurring the expense.
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(b) When setting up efficiency reporting frequency and information, the Federal agency really should look at what information and facts are going to be essential to evaluate the receiver's development, to recognize promising here procedures of recipients, and build the evidence on which the Federal agency makes program and efficiency conclusions.
(6) Pension program expenses could be computed using a spend-as-you-go technique or an actuarial cost method recognized by GAAP and subsequent the receiver's or subrecipient's established published procedures.
Federal organizations should set up conflict of curiosity procedures for Federal awards. A receiver or subrecipient will have to disclose in writing any potential conflict of desire towards the Federal agency or pass-by means of entity in accordance with the established Federal agency procedures.
The Federal agency might waive any overall performance report that's not essential to ensure the objectives and targets from the Federal award are now being achieved.
The prior acceptance needs for that steps described in paragraph (g) of the segment are routinely waived for Federal awards that help investigate Except stipulated while in the Federal agency's rules or terms and conditions with the Federal award.
(a) All procurement transactions underneath the Federal award have to be conducted inside of a way that provides full and open up Competitiveness and it is in step with the standards of this portion and § 200.320.
(b) For prices covering a long term fiscal 12 months from the recipient or subrecipient, the unallowable expenses has to be removed from the indirect Expense pools and also the fees must be adjusted.