Get the free Uniform Guidance Cost Principles Reference Guide

UniformGuidanceCostPrinciplesReferenceGuide The Uniform Guidance issued by the White House Office of Management and Budget includes revised cost principles for federal awards made on or after December

How to fill out uniform guidance cost principles

How to fill out uniform guidance cost principles

1. Understand the Uniform Guidance cost principles outlined in 2 CFR Part 200.
2. Review the specific requirements and restrictions for allowable costs.
3. Identify the direct and indirect costs associated with the project or program.
4. Follow the guidelines for determining the allocability of costs to ensure they are reasonable and allowable.
5. Keep accurate records and documentation to support the costs incurred.
6. Regularly monitor and track costs to ensure compliance with the Uniform Guidance.

Who needs uniform guidance cost principles?

1. Non-profit organizations receiving federal funding.
2. State and local government agencies managing federal grants.
3. Educational institutions conducting research funded by federal grants.
4. For-profit organizations involved in federal contracts or agreements.

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What is uniform guidance cost principles?

Uniform guidance cost principles refer to a set of rules and regulations established by the Office of Management and Budget (OMB) to ensure consistent treatment of costs incurred by federal awards.

Who is required to file uniform guidance cost principles?

Any organization that receives federal funding and is subject to the Uniform Guidance regulations is required to file uniform guidance cost principles.

How to fill out uniform guidance cost principles?

Uniform guidance cost principles can be filled out by following the instructions provided in the Uniform Guidance regulations and using accounting records to accurately report costs incurred.

What is the purpose of uniform guidance cost principles?

The purpose of uniform guidance cost principles is to standardize the treatment of costs for organizations receiving federal funding, ensure accountability and transparency in financial reporting.

What information must be reported on uniform guidance cost principles?

Uniform guidance cost principles require reporting of direct and indirect costs, cost allocations, cost principles compliance, and other financial information related to federal awards.