means an auditor that's a public accountant or possibly a Federal, Point out, area government, or Indian Tribe audit Firm that meets the overall criteria specified for exterior auditors in commonly recognized federal government auditing specifications (GAGAS). The expression auditor would not include internal auditors of nonprofit corporations.
(one) The expression “direct loan” means a disbursement of resources from the Federal Govt to the non-Federal borrower underneath a agreement that requires the repayment of this sort of money with or with no curiosity. The phrase incorporates the purchase of, or participation in, a loan made by A further lender and funding preparations that defer payment for greater than ninety times, such as the sale of the Federal Federal government asset on credit conditions.
(i) In scenarios of conflict between the necessities of applicable parts of this element as well as stipulations with the contract, the stipulations in the deal as well as the FAR prevail.
(2) The Federal agency need to notify OMB of any authorised deviations. The recipient or subrecipient may well notify OMB of any disputes with Federal businesses pertaining to the appliance of a federally negotiated oblique Price tag price.
definition. A computing machine can be a supply if the acquisition Price tag is underneath the lesser on the capitalization level recognized by the recipient or subrecipient for financial statement uses or $10,000, regardless of the length of its practical daily life. See this portion's definitions of computing devices
The recipient or subrecipient is answerable for deciding and documenting an appropriate micro-obtain threshold based upon interior controls, an analysis of danger, and its documented procurement strategies. The micro-purchase threshold employed by the receiver or subrecipient needs to be authorized or not prohibited less than State, local, or tribal laws or laws.
(2) Charges of speaking with the public and push about specific pursuits or achievements which end result from your performance on the Federal award (these prices are thought of required as Element of the outreach hard work for the Federal award); or
(one) Costs to Federal awards for salaries and wages need to be based on data that properly replicate the operate performed. These information have to:
(ii) The IHE establishes a reliable created definition of work protected by IBS, which is specific enough to find out conclusively when function further than that degree has transpired. This definition could be described in appointment letters or other documentation.
(e) When the recipient or subrecipient accepts a loan or grant, it is certifying that it will adjust to the prohibition on protected telecommunications tools and services In this particular section.
(b) Be certain that every subaward is clearly discovered to the subrecipient as being a subaward and features the knowledge furnished underneath. A move-via entity should offer the very best offered facts when many of the knowledge beneath is unavailable.
(a) Each individual Condition ought to expend and account for the Federal award in accordance with State regulations and processes for expending and accounting for the Condition's cash. All receiver and subrecipient money more info administration devices, including information documenting compliance with Federal statutes, polices, and the terms and conditions of the Federal award, must be enough to allow the preparing of reports needed by the conditions and terms; and tracking expenses to establish that cash are already Utilized in accordance with Federal statutes, restrictions, along with the conditions and terms in the Federal award. See § two hundred.450.
(iii) Contracts need to be awarded to your accountable offeror whose proposal is most useful to your recipient or subrecipient contemplating value along with other elements; and
(one) The charges could be documented with a funds or accrual basis providing the methodology is disclosed and regularly used.