A subaward is for the goal of finishing up a part of the Federal award and creates a Federal monetary aid romance with a subrecipient. See the definition of Subaward
signifies the Federal agency's or go-via entity's created dedication, furnished on the auditee, in the adequacy on the auditee's proposed corrective steps to handle the results based on its analysis of your audit conclusions and proposed corrective actions.
usually means a questioned Charge exclusively determined from the auditor. Recognized questioned expenses are a subset of very likely questioned prices.
(a) Title to intangible property obtained underneath a Federal award vests upon acquisition within the recipient or subrecipient. The recipient or subrecipient should use that intangible assets for the originally licensed intent and will have to not encumber the house without the approval in the Federal company or move-via entity.
If the recipient or subrecipient retains title on the property, it ought to pay the Federal agency an total calculated by multiplying the percentage in the Federal company's contribution to the initial acquire (and costs of any improvements) by The present honest current market value of the property.
implies the documentation determining, accumulating, and allocating or acquiring billing prices based on the allowable expenses of solutions provided by a Condition, community govt, or Indian Tribe to its departments and organizations on the centralized basis. The prices of such providers can be allocated or billed to end users.
(one) Fees unallowable less than other sections of those rules need to not be allowable less than this section solely because they constitute staff payment.
(i) In conditions of conflict among the requirements of applicable parts of the aspect and the terms and conditions in the agreement, the terms and conditions on the agreement along with the Much prevail.
The Federal agency should really make all funding options obtainable for application for a minimum of 60 calendar days. Having said that, the Federal agency might modify The provision duration of a possibility as necessary. For instance, extending the interval may be essential to deliver specialized aid to an applicant pool which was not expected when the announcement was designed or has significantly less expertise with making use of for Federal financial help.
(b) Once the closeout in the Federal award, a romance produced beneath the Federal award may very well be modified or led to full or partially. This may only be completed with the consent of your awarding Federal company or go-as a result of entity and also the recipient or subrecipient, delivered the responsibilities in the recipient or subrecipient referred to in paragraph (a) of this segment, like People for home administration as applicable, are regarded and provisions are made for continuing responsibilities on the receiver or subrecipient, as correct.
(1) Learns that any of read more that data is faulty, the Federal company should accurate the knowledge during the method in 3 business days; and
(6) Specifying only a “model identify” solution in lieu of allowing for “an equivalent” product to get available and describing the efficiency or other applicable needs from the procurement; and
(3) Notwithstanding the encouragement in § two hundred.307 to receive program revenue, the receiver or subrecipient ought to not use equipment acquired Along with the Federal award to offer services for any rate that's below A personal organization would cost for very similar services unless particularly authorized by Federal statute.
The next is an index of definitions of key conditions often Utilized in 2 CFR section two hundred. Definitions found in Federal statutes or laws that use to specific packages choose priority over the following definitions.