A subaward is for the objective of finishing up a part of the Federal award and results in a Federal monetary aid relationship which has a subrecipient. See the definition of Subaward
The next is an index of definitions of key terms routinely Utilized in 2 CFR section two hundred. Definitions present in Federal statutes or restrictions that use to unique applications take priority more than the subsequent definitions.
The Federal company ought to use OMB-accredited widespread information collections (for instance, Investigation Overall performance Progress Stories) when requesting overall performance reporting information. The Federal company or pass-by way of entity may well not collect functionality experiences far more regularly than quarterly Unless of course a selected situation has become executed in accordance with § 200.208. To your extent practicable, the Federal company or pass-by way of entity should really align the owing dates of efficiency stories and economical reviews. When reporting application overall performance, the recipient or subrecipient will have to relate financial information and task or plan accomplishments towards the general performance plans and targets in the Federal award. Also, the receiver or subrecipient will have to give cost info to demonstrate Value-effective practices (for instance, by way of unit Price facts) when needed by the conditions and terms from the Federal award.
(i) Every time a recipient or subrecipient utilizes the money foundation of accounting, the expense of leave is recognized during the period which the depart is taken and compensated for.
(one) Is used to enter into a connection, the principal function of and that is to transfer nearly anything of benefit to carry out a general public goal authorized by a law of America (see 31 U.
(i) Learns that any of that info is faulty, the Federal agency have to proper the data in the system inside a few organization days;
(B) Substantial improvements while in the relevant operate action (as defined by the receiver's or subrecipient's composed guidelines) are instantly recognized and entered into the documents.
(1) The receiver or subrecipient need to manage published specifications of perform covering conflicts of curiosity and governing the steps of its workers engaged in the choice, award, and administration of contracts. No employee, officer, agent, or board member with get more info a real or evident conflict of desire may possibly participate in the selection, award, or administration of a agreement supported from the Federal award. A conflict of fascination incorporates when the employee, officer, agent, or board member, any member of their fast relatives, their lover, or an organization that employs or is about to make use of any on the functions indicated herein, has a fiscal or other fascination in or a tangible individual take pleasure in an entity regarded as for the agreement.
The recipient or subrecipient must award contracts only to liable contractors that possess a chance to perform efficiently under the stipulations of a proposed contract. The recipient or subrecipient must take into consideration contractor integrity, community coverage compliance, proper classification of staff members (see the Good Labor Criteria Act, 29 U.
(1) A published demand or assertion by among the functions to the Federal award looking for like a issue of appropriate:
There isn't a universal rule for classifying particular expenses as direct or oblique expenditures. A cost may be direct for a few particular service or purpose but indirect with the Federal award or other final Expense aim.
(1) A proposal to ascertain a value allocation strategy or an oblique Value amount, no matter whether submitted to your Federal cognizant company for indirect fees or maintained on file through the receiver, must be certified from the receiver using the Certificate of Cost Allocation Strategy
(ii) The very best obtainable fascination-bearing account wouldn't moderately be envisioned to earn interest in extra of $500 a year on Federal funds balances;
Official procurement solutions are needed when the worth of the procurement transaction below a Federal award exceeds the simplified acquisition threshold on the receiver or subrecipient. Official procurement procedures are aggressive and require public notice.