Cost Principles for State and Local Governments and Nonprofit Organizations

Description

Understand the cost principles applicable to state and local governments and nonprofit organizations. Also, learn how to ensure that costs claimed against government grants are allowable and what qualifies as a reimbursement.

With few exceptions, entities that receive federal government grants must follow certain cost principles, which, if violated, can result in unallowable expenditures that culminate in large refunds to the granting agency. This course will allow attendees to help clients avoid the financial cost—and unpleasant publicity—related to significant disallowance.

Note: These cost principles do not cover colleges, universities and hospitals. Discuss the concepts of allocation, but not the development of indirect cost rates.

Highlights

• Regulations governing grant programs
• Rules of allowability
• Permissibility of most cost categories
• Documentation requirements
• The Uniform Grant Guidance,  2 CFR 200, Subpart E

Objectives

• Identify the criteria for determining whether a cost is allowable.
• Determine the permissibility of specific items of cost.
• Recognize how to adequately document claimed costs.

Designed For

Government grantees, government auditors and CPAs.