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NEW MEXICO COMMISSION for the BLINDAllowable Cost Policy and Procedures Allowable Cost Policy and Procedure was adopted on February 2, 2021. It revises versions adopted on 12/2/20, 8/26/20, 4/23/20,
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How to fill out allowable-cost-policy-and-procedure-adopted-in

01
Begin by identifying all allowable costs that can be included in the policy and procedure.
02
Clearly outline the steps for requesting approval for costs that may fall outside of the allowable costs list.
03
Specify the procedures for documenting and recording all costs incurred.
04
Include a section on monitoring and evaluating the effectiveness of the policy and procedure.
05
Obtain approval from relevant stakeholders before finalizing the policy and procedure.

Who needs allowable-cost-policy-and-procedure-adopted-in?

01
Organizations receiving funding or grants that have specific requirements for allowable costs.
02
Accounting departments or financial managers responsible for managing expenses and ensuring compliance with funding guidelines.

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The allowable cost policy and procedure adopted in outlines the rules and guidelines that govern which costs can be classified as allowable under specific contracts or regulations. It ensures compliance with federal policies for reimbursement.
Organizations that receive federal funding or are involved in cost-reimbursement contracts are required to file the allowable cost policy and procedure.
To fill out the allowable cost policy and procedure, an organization must gather information on their cost accounting practices, identify allowable costs, and document procedures for ensuring compliance before submitting the form.
The purpose of the allowable cost policy and procedure is to provide a framework for identifying, documenting, and reporting costs that are allowable for reimbursement, thus ensuring transparency and compliance with applicable regulations.
The report must include details regarding cost accounting practices, a breakdown of allowable and non-allowable costs, procedures for cost allocation, and any relevant documentation that supports the costs claimed.
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