Get the free a) OMBCircularA87CostPrinciplesforState,LocalandIndianTribalGovernments - countyofsb

COUNTY OF SANTA BARBARA HOUSING AND COMMUNITY DEVELOPMENT CBG CAPITAL PROJECT APPLICATION ?? Project Proposal for Program Year 2011?12 ?? Section A General Project Information Summary 1. Project Title:

How to fill out a ombcirculara87costprinciplesforstatelocalandindiantribalgovernments - countyofsb

How to fill out a OMB Circular A-87 Cost Principles for State, Local, and Indian Tribal Governments:

1. Review the circular: Familiarize yourself with the contents of the OMB Circular A-87. Understand the purpose, guidelines, and requirements stated within the circular.
2. Gather necessary information: Collect all relevant financial and administrative records, receipts, and documentation required to complete the form. This may include budget information, expenditure reports, and salary details.
3. Understand cost principles: Gain a comprehensive understanding of the cost principles outlined in the circular. These principles govern the allowability, allocability, and reasonableness of costs incurred by state, local, and Indian tribal governments.
4. Identify applicable costs: Review your financial records and identify the costs that are applicable to the circular. Categorize the costs based on the principles mentioned in the circular to ensure accurate reporting.
5. Complete the form: Based on the information gathered and understanding of the cost principles, begin filling out the OMB Circular A-87 form. Ensure all required fields are filled accurately and completely.
6. Provide supporting documentation: Attach any necessary supporting documentation requested by the form. This can include receipts, contracts, time sheets, or any other relevant records that verify the costs reported.
7. Verify accuracy: Double-check all the information provided to ensure accuracy. Review calculations, figures, and any other details to ensure they align with the requirements specified in the form and the circular.
8. Seek professional guidance, if needed: If you encounter any difficulties or uncertainties while filling out the form, consider seeking assistance from a professional with expertise in government compliance or financial management.

Who needs OMB Circular A-87 Cost Principles for State, Local, and Indian Tribal Governments?

1. State governments: State governments need the OMB Circular A-87 to understand the cost principles and guidelines when receiving federal funding and grants.
2. Local governments: Local governments, including cities, towns, or counties, need this circular to ensure compliance with federal regulations when managing funding received from federal agencies.
3. Indian tribal governments: Indian tribal governments must adhere to the OMB Circular A-87 when receiving federal grants and funding to ensure proper financial management and reporting.

Note: It is always recommended to consult the specific requirements and guidelines applicable to your particular situation, as regulations may vary based on location and other factors.

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What is a ombcirculara87costprinciplesforstatelocalandindiantribalgovernments?

OMB Circular A-87 Cost Principles for State, Local, and Indian Tribal Governments provides guidelines for determining allowable costs for grants and contracts.

Who is required to file a ombcirculara87costprinciplesforstatelocalandindiantribalgovernments?

State, local, and Indian tribal governments receiving federal grants or contracts are required to follow OMB Circular A-87.

How to fill out a ombcirculara87costprinciplesforstatelocalandindiantribalgovernments?

To fill out OMB Circular A-87, governments must review the guidelines and ensure their costs are allowable and properly documented.

What is the purpose of a ombcirculara87costprinciplesforstatelocalandindiantribalgovernments?

The purpose of OMB Circular A-87 is to establish principles for determining costs to be reimbursed under federal grants and contracts.

What information must be reported on a ombcirculara87costprinciplesforstatelocalandindiantribalgovernments?

The information reported on OMB Circular A-87 includes allowable costs, cost allocation methods, and documentation requirements.