are entertainment cost considered allowable cost under the cost principles?
(c) Any cost allocable to a particular Federal award under the principles provided for in this part may not be charged to other Federal awards to overcome fund deficiencies, to avoid restrictions imposed by Federal statutes, regulations, or terms and conditions of the Federal awards, or for other reasons. 1 September 2014 Uniform Guidance Cost Principles Reference Guide Uniform Guidance Cost Principles Reference Guide The Uniform Guidance issued by the White House Office of Management and Budget includes revised cost principles for federal awards made on or after December 26, 2014. This Cost Principles Reference Guide highlights select items of cost that should be considered in the budget preparation process and post-award management, in accordance with the Uniform Guidance. §200.403 Factors affecting allowability of costs. Except where otherwise authorized by statute, costs must meet the following general criteria in order to be allowable under Federal awards: (a) Be necessary and reasonable for the performance of the Federal award and be allocable thereto under these principles. (b) Conform to any limitations or exclusions set forth in these principles or in the Federal award as to types or amount of cost items. 4 September 2014 Uniform Guidance Cost Principles Reference Guide. 4. Exchange Rates (200.440) The cost of fluctuations in exchange rates is allowable as long as there is funding available on the award and prior approval has been received from the federal awarding agency. Remove the $3598.97 from the prenegotiation objective, which is an unallowable cost IAW FAR 15.408(i). IAW FAR 15.408(i), if the contractor does not propose FCCOM, the contracting officer is required to insert the clause at FAR 52.215-17 into the resultant contract and any FCCOM is considered an unallowable cost. • Be allowable under the applicable cost principles; • Be consistent with the non-federal entity’s cost accounting practices and entity policy; and. • Meet the definition of “direct costs” as described in the applicable cost principles. §200.405 Allocable costs. (a) A cost is allocable to a particular Federal award or other cost objective if the goods or services involved are chargeable or assignable to that Federal award or cost objective in accordance with relative benefits received. 3. Entertainment (200.438) Entertainment costs are allowable only when the cost is specific and has a programmatic purpose to the award, and is authorized either in the approved budget or with the prior written approval of the federal awarding agency. §200.404 Reasonable costs. A cost is reasonable if, in its nature and amount, it does not exceed that which would be incurred by a prudent person under the circumstances prevailing at the time the decision was made to incur the cost.
Yes