10A NCAC 97B .1003      COST PRINCIPLES

(a)  The policies and procedures set forth in the U.S. Office of Management and Budget Circular A‑87: "Cost Principles Applicable to Grants and Contracts with State and Local Governments," shall be applicable to the expenditure of funds by public grant recipients unless specifically stated otherwise in this Subchapter, subsequent subchapters, and/or specific requirements imposed by federal and state legislation and regulations establishing a specific program.

(b)  The policies and procedures set forth in the U.S. Office of Management and Budget Circular A‑122: "Cost Principles for Non‑profit Organizations," shall be applicable to the expenditure of funds by private grant recipients unless specifically stated otherwise in this Subchapter, subsequent Subchapters, and/or specific requirements imposed by federal and state legislation and regulations establishing a specific program.

(c)  In applying the U.S. Office of Management and Budget Circular A‑87 and A‑122, the following definitions shall apply:

(1)           "Grantee" means public grant recipient or private grant recipient as defined in Rule .0102 of this Subchapter.

(2)           "Federal Grantor Agency" means the Office.

(3)           "Executive Agencies" means the Office.

History Note:        Authority G.S. 143B‑10; 143B‑276; 143B‑277; 143‑323(d);

Eff. December 1, 1983;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. April 25, 2015.