Get the free OMB Circular A-87: Cost Principles for State, Local, and ...

OMB CIRCULAR A87 (REVISED 05/10/04) CIRCULAR NO. A87 Revised TO THE HEADS OF EXECUTIVE DEPARTMENTS AND ESTABLISHMENTS SUBJECT: Cost Principles for State, Local, and Indian Tribal Governments 1. Purpose.

How to fill out omb circular a-87 cost

How to fill out omb circular a-87 cost

1. Review the guidelines provided in OMB Circular A-87 to understand what costs are allowable and allocable under federal grants and agreements.
2. Gather all relevant financial data and documentation related to the costs you are looking to allocate.
3. Determine the direct costs that are specifically identifiable to a particular grant or agreement.
4. Allocate indirect costs based on the approved cost allocation plan and rates.
5. Document the costs in accordance with the requirements outlined in OMB Circular A-87.
6. Ensure that all costs are properly supported and justified to comply with federal regulations.

Who needs omb circular a-87 cost?

1. Organizations and entities that receive federal grants or agreements and are required to comply with the cost principles outlined in OMB Circular A-87.
2. Financial and accounting professionals who are responsible for managing and allocating costs for federal grants and agreements.
3. Government agencies and auditors who review and assess the cost allocation practices of entities receiving federal funding.

For pdfFiller’s FAQs

How do I fill out the omb circular a-87 cost form on my smartphone?

The pdfFiller mobile app makes it simple to design and fill out legal paperwork. Complete and sign omb circular a-87 cost and other papers using the app. Visit pdfFiller's website to learn more about the PDF editor's features.

How do I edit omb circular a-87 cost on an Android device?

You can edit, sign, and distribute omb circular a-87 cost on your mobile device from anywhere using the pdfFiller mobile app for Android; all you need is an internet connection. Download the app and begin streamlining your document workflow from anywhere.

How do I fill out omb circular a-87 cost on an Android device?

Use the pdfFiller mobile app to complete your omb circular a-87 cost on an Android device. The application makes it possible to perform all needed document management manipulations, like adding, editing, and removing text, signing, annotating, and more. All you need is your smartphone and an internet connection.

What is omb circular a-87 cost?

OMB Circular A-87 provides guidance on the principles for determining costs applicable to grants, contracts, and other agreements with state and local governments. It outlines what costs are allowable and unallowable when claiming reimbursement for federal funds.

Who is required to file omb circular a-87 cost?

State and local governments that provide federally funded services or receive federal grants and are subject to OMB regulations must adhere to OMB Circular A-87 and its cost principles.

How to fill out omb circular a-87 cost?

To fill out OMB Circular A-87 cost forms, organizations must identify and categorize their expenses in accordance with the allowable cost principles outlined in the circular. Detailed documentation of each cost is necessary, ensuring clear allocation to the appropriate grant or project.

What is the purpose of omb circular a-87 cost?

The purpose of OMB Circular A-87 is to establish consistent cost principles that ensure federal funds are used effectively and appropriately while preventing waste and misuse of taxpayer dollars.

What information must be reported on omb circular a-87 cost?

Organizations must report detailed cost information, including the nature of the costs, their allocation methods, documentation, and any relevant compliance information regarding allowable and unallowable costs.