When suitable for the procurement or usage of common or shared items and expert services, recipients and subrecipients are inspired to enter into Point out and local intergovernmental agreements or inter-entity agreements for procurement transactions.
(a) Bonding costs come up once the Federal agency necessitates assurance from economical loss to alone or Some others due to an act or default with the recipient or subrecipient.
When conducting procurement transactions under a Federal award, a Point out or Indian Tribe have to Adhere to the exact insurance policies and processes it employs for procurements with non-Federal money. If these types of procedures and treatments do not exist, States and Indian Tribes need to follow the procurement standards in §§ 200.
means economic obligations incurred because of the recipient or subrecipient but not compensated (liquidated) for economic reports ready with a money basis.
(d) The Federal agency or go-by entity should not hold off payments for the receiver or subrecipient for expenditures Assembly the requirements of subpart E of the aspect.
A short summary of the statutory or regulatory needs of the program and its intended final result. Where by suitable, the program description, goal, aims, and effectiveness measurement really should align While using the strategic objectives and targets throughout the Federal agency's general performance strategy and will guidance the Federal agency's effectiveness measurement, management, purchaser expertise initiatives, and reporting as necessary by Portion 6 of OMB Circular A-eleven;
When devices obtained beneath a Federal award is now not essential for the initial undertaking, plan, or for other functions presently or Beforehand supported by a Federal agency, the recipient or subrecipient need to ask for disposition Directions from the Federal agency or go-by means of entity if needed from the conditions and terms of your Federal award.
The Federal agency could modify the danger evaluation Anytime throughout the duration of general performance, which may justify alterations to the terms and conditions in the Federal award. See § 200.208.
(iii) The depository would have to have a mean or minimum amount balance so higher that it wouldn't be possible Along with the envisioned Federal and non-Federal hard cash resources;
The subsequent are certainly not thought of system revenue Until laid out in Federal statutes, laws, or even the conditions and terms in the Federal award:
(4) If a receiver or subrecipient establishes or converts to an actuarial Value strategy and resources PRHP costs in accordance with this method, the Original unfunded liability attributable to prior decades is allowable if amortized above a period of many years in accordance with GAAP, or, if no these types of here GAAP period of time exists, more than a interval negotiated While using the cognizant agency for oblique costs.
The recipient and subrecipient should keep all Federal award records for three many years in the day of submission in their ultimate economic report. For awards which might be renewed quarterly or every year, the recipient and subrecipient should keep information for three many years from the day of submission in their quarterly or annual financial report, respectively.
signifies Price sharing specifically pledged voluntarily from the proposal's spending budget to the A part of the recipient or subrecipient, which gets to be a binding need in the Federal award. See § two hundred.306.
The Federal agency or pass-by entity may well acknowledge the recipient's or subrecipient's bonding plan and demands for building or facility advancement contracts or subcontracts exceeding the simplified acquisition threshold.