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A-21
Office of Management of the Budget (OMB) Circular:
Establishes the principles for determining costs applicable
to grants, contracts and other agreements with colleges
and universities. These principles are to be used as
a guide in the pricing of fixed price agreements and
apply to direct costs and indirect costs for cost reimbursement
grants and contracts.
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A-110
Office of Management of the Budget (OMB) Circular:
Provides a public declaration of the standards to be
used by federal agencies and colleges and universities
in the administration of grants and other agreements.
This does not include contracts that are administered
under procurement laws and regulations.
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A-133
Office of Management of the Budget (OMB) Circular:
States audit requirement and provides policy guidance
to federal agencies and colleges and universities regarding
the institutions' financial records, internal control
structure and compliance with applicable laws and regulations.
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Allocation
- The process of assigning a cost, or a group of costs,
to one or more cost objective, in reasonable and realistic
proportion to the benefit provided or other equitable
relationship. A cost objective may be a major function
of the institution, a particular service or project,
a sponsored agreement, or a F&A cost activity, as
described in Section F. The process may entail assigning
a cost(s) directly to a final cost objective or through
one or more intermediate cost objectives. A-21
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Budget
- A budget identifies the type of costs and estimated
amounts needed to complete the project. The budget must
be approved by the funding agency and OUHSC. This budget
will be the basis for authorizing any expenditure on
the project and the basis for seeking payment from the
funding agency.
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Budget
Period - The length of time the award is active.
Every award should have specified beginning and ending
dates. All expenditures must be incurred or encumbered
during this period. If expenditures fall outside this
period, they cannot be reimbursed or used as cost sharing.
In some cases, the sponsor may approve pre-award costs.
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Contract
- A contract is generally an agreement to provide a
product or service that is of direct benefit to the
awarding agency. Contracts provide for payments to the
University, which cover allowable project costs or payment
of a fixed price for satisfactory completion of the
project.
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Cooperative
Agreement - A cooperative agreement is like a grant
except that the federal government will be closely involved
in the activity that is being funded, perhaps bringing
government personnel to campus to work on the project.
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Cost-Reimbursable
Contract/Grants - The sponsor will reimburse the
University for any actual, approved project costs, within
whatever variances the funding agency allows.
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Cost
Sharing - Refers to costs of the program that the
funding agency does not pay. It may be a Match, In-Kind
Cost Sharing, or Unrecovered F&A (Indirect Costs).
These costs are generally borne by the University or
non-federal source.
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Equipment
- Tangible, non-expendable personal property having
a useful life of more than 1 year and an acquisition
cost of $5,000 (Oklahoma) or more per unit. Equipment
may be a single item, a constructed item (i.e., fabricated)
or several components that produce one unit. Threshold
of $5,000 includes shipping.
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Facilities
and administrative (F&A) costs - Costs that
are incurred for common or joint objectives and, therefore,
cannot be identified readily and specifically with a
particular sponsored project, an instructional activity,
or any other institutional activity. F&A costs are
synonymous with "indirect" costs, as previously
used in OMB Circular A21, Section F.1 and as currently
used in its Appendices A and B. A-21
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Fixed
Price Contract - Payments for this type of contract
are based on satisfactory performance. Payment is set
and cannot be adjusted because of how much it costs
to meet the terms of the agreement, whether more or
less than the contracted amount.
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Gift
- Contribution from a private, non-governmental source,
made without expectation of any product or service of
a tangible or intangible nature in return.
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Grant
- A grant is an agreement to accomplish something for
the public good in exchange for money, property or services.
Most federal agencies use a grant document for research
awards to universities.
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Modified
Total Direct Cost (MTDC) - MTDC is the basis used
to determine appropriate F&A return. It consists
of all salaries and wages, fringe benefits, materials,
supplies, services, travel and subgrants and subcontracts
up to the first $25,000 of each subgrant or subcontract
(regardless of the period covered by the subgrant or
subcontract). MTDC excludes equipment, capital expenditures,
charges for patient care, tuition remission, rental
costs of off-site facilities, scholarships, and fellowships
as well as the portion of each subgrant and subcontract
in excess of $25,000. Definition per F&A rate agreement
dated 11/27/01.
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Other
Sponsored Activities - Programs and projects financed
by Federal and non-Federal agencies and organizations
that involve the performance of work other than instruction
and organized research. Examples of such programs and
projects are health service projects, and community
service programs. However, when any of these activities
are undertaken by the institution without outside support,
they may be classified as other institutional activities.
A-21
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Program
Income - This is income earned by the University
that is directly generated by a supported activity or
earned as a result of the contract or grant.
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Sponsored
Research - All research and development activities
that are sponsored by Federal and non-Federal agencies
and organizations . This term includes activities involving
the training of individuals in research techniques (commonly
called research training) where such activities utilize
the same facilities as other research and development
activities and where such activities are not included
in the instruction function.
A-21
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Total
Project Costs - Direct costs plus F&A (indirect
costs). This includes the granting agency's share, the
University share, and in some cases, it may include
a third party share.
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University
Research - All research and development activities
that are separately budgeted and accounted for by the
institution under an internal application of institutional
funds. University research, for purposes of this document,
shall be combined with sponsored research under the
function of organized research. A-21
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