Cost Checklist
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Office of Management and Budget (OMB) circular A-21 establishes the principles for determining costs applicable to grants, contracts and other agreements with educational institutions.  The principles are designed to provide that the federal government bear its fair share of the total cost, determined in accordance with generally accepted accounting principles, except where restricted or prohibited by law.  The PI is allowed more liberal guidelines with private funds, but the expenditures to support the project must still be reasonable and allowable.

General Cost Guidelines

Costs must be reasonable.  This is defined as the action a prudent person would have taken under the circumstances. 

Costs must be allocable to sponsored agreements under the principles and methods described in OMB A-21.  Any costs allocable to a particular sponsored agreement may not be shifted to other sponsored agreements to clear an overdraft or for other reasons of convenience.

Costs must conform to any limitations or exclusions set forth in these principles or in the sponsored agreement as to types or amounts of cost items.

The following checklist is presented as a general guideline of costs allowable as a direct cost.  Any special conditions are noted.

Cost Checklist

For complete list of Cost Checklist,  please click: FY07-GrantAcconting_CostChecklist.

Prior Approvals

All expenditure documents (including payroll) are reviewed by the Coordinator of Grant Accounting to verify allowability for charges made to grants.  They are then forwarded to the appropriate offices of Purchasing, Travel, Accounts Payable and Employment Services and Operations for processing and payment.

Up to Grant Accounting

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