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This document outlines revised procedures for cost sharing and in-kind requirements on sponsored projects at the University of Pennsylvania. It includes guidance on allocability, project periods,

How to fill out revised cost sharing procedures

How to fill out Revised Cost Sharing Procedures

1. Review the Revised Cost Sharing Procedures document to understand the requirements.
2. Gather all relevant financial data related to cost sharing activities.
3. Identify applicable cost sharing sources and categorize them appropriately.
4. Complete the required forms as outlined in the procedures.
5. Ensure that all documentation supports the cost sharing commitments.
6. Submit the completed procedures to the designated approver within the timeframe specified.
7. Maintain copies of all submitted documents for your records.

Who needs Revised Cost Sharing Procedures?

1. Research faculty applying for grants that involve cost sharing.
2. Administrative staff responsible for grant management.
3. Department heads overseeing budget allocations.
4. Financial officers involved in compliance and reporting.
5. Any entity or individual requiring clarity on cost sharing contributions.

People Also Ask about

What are the different types of cost sharing?

There are primarily three types of cost sharing that may occur on sponsored projects: mandatory cost sharing; voluntary committed cost sharing; and voluntary uncommitted cost sharing.

What are the 3 elements of a cost sharing health insurance plan?

Plans typically have three different types of cost-sharing charges: a deductible, copayments and coinsurance, although not all plans feature each of these three types of cost sharing.

What are the 3 main categories of cost in product costs?

Product costs are costs that are incurred to create a product that is intended for sale to customers. Product costs include direct material (DM), direct labor (DL), and manufacturing overhead (MOH).

What are the DOE cost share requirements?

The cost sharing requirements generally require a 20 percent cost share for research and development, with an exemption for basic or fundamental research and development, and a 50 percent cost share for demonstration and commercial application activities.

What are the different cost sharing options?

Cost sharing refers to the way your cost of covered care is split between you and your insurance company. This can include copays, your deductible, and/or coinsurance, with many plans including some combination of all three.

What are the three types of cost sharing?

“Matching” is another commonly used term. There are primarily three types of cost sharing that may occur on sponsored projects: mandatory cost sharing, voluntary committed cost sharing and voluntary uncommitted cost sharing. Let's look into each of these.

What are the requirements for cost sharing?

To meet cost-sharing requirements, the non-Federal contributions must be reasonable, allowable, allocable, and necessary under the grant program and must comply with all Federal requirements and regulations.

What is an example of a cost sharing approach?

One example of a cost-sharing approach in the education sector is scholarships. Scholarships are a cost-sharing approach where individuals or organizations pay for a student's education expenses.

For pdfFiller’s FAQs

What is Revised Cost Sharing Procedures?

Revised Cost Sharing Procedures are guidelines and protocols that organizations must follow when outlining the cost-sharing arrangements for funded projects, especially when dealing with federal grants and contracts.

Who is required to file Revised Cost Sharing Procedures?

Organizations that receive federal funding and are involved in cost-sharing agreements are required to file Revised Cost Sharing Procedures.

How to fill out Revised Cost Sharing Procedures?

To fill out Revised Cost Sharing Procedures, organizations must gather relevant financial data, indicate the shared costs between parties, provide necessary documentation, and ensure compliance with grantor requirements before submission.

What is the purpose of Revised Cost Sharing Procedures?

The purpose of Revised Cost Sharing Procedures is to ensure transparent and accountable management of shared costs in research or project funding, by clarifying the responsibilities and contributions of each party involved.

What information must be reported on Revised Cost Sharing Procedures?

Required information typically includes detailed descriptions of the cost-sharing contributions, the method of calculating shared costs, supporting documentation, and confirmation of compliance with relevant regulations.