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OMB Circular A-21 is a Government circular that sets forth the rules governing the eligibility and calculation of costs in support of sponsored research, development, training and other works produced in agreement with the United States Federal Government, but does not attempt to identify or dictate agency or institutional participation in those works.
Prior to December 26, 2014, each group has a separate set of cost principles to follow. The cost principles applicable to a recipient type apply to all federal assistance received by that entity, regardless of whether the awards are received directly from the federal government or indirectly through a pass-through entity. [3]
Title 2 of the Code of Federal Regulations (2 CFR), titled Grants and Agreements, is a United States federal-government regulation.. As of the January 1, 2022 revision, Title 2 comprises two subtitles: Subtitle A, Office of Management and Budget Guidance for Grants and Agreements, [1] and Subtitle B, Federal Agency Regulations for Grants and Agreements.
OMB Circular A-21, "Cost Principles for Educational Institutions" OMB Circular A-87, "Cost Principles for State, Local, and Indian Tribal Governments" OMB Circular A-110, "Uniform Administrative Requirements for Grants and Agreements with Institutions of Higher Education, Hospitals, and Other Non-Profit Organizations"
In the United States, the Single Audit, Subpart F of the OMB Uniform Guidance, is a rigorous, organization-wide audit or examination of an entity that expends $750,000 or more of federal assistance (commonly known as federal funds, federal grants, or federal awards) received for its operations.
Contractors may, therefore, use IRAD as a strategic tool to generate valuable technical knowledge while maintaining proprietary control. Cost principles are generally read in conjunction with Cost Accounting Standard (CAS) 420. [35] However, balancing the interests of the government and contractors in the context of IRAD has proven challenging.
The predecessor to UPMIFA, called the Uniform Management of Institutional Funds Act (UMIFA), was approved by the National Conference of Commissioners on Uniform State Laws (NCCUSL) in 1972 and was enacted by 47 states. Under UMIFA a charity could spend from an endowment fund up to the amount of appreciation above the historic dollar value (HDV ...
OMB Circular A 87, "Cost Principles for State, Local, and Indian Tribal Governments" (superseded by 2 CFR 200) OMB Circular A-110, "Uniform Administrative Requirements for Grants and Agreements with Institutions of Higher Education, Hospitals, and Other Non-Profit Organizations" (superseded by 2 CFR 200)