Understanding the Cost Principles

Understanding the Cost Principles

The Office of Management and Budget’s cost principles at 2 C.F.R. pt. 200 determine which costs are allowable and can be charged to Federal awards and subawards. However, applying the cost principles to an organization’s expenses is not always easy. This session will explore allowable and unallowable costs for Federal grants and subawards under the OMB’s cost principles. You will learn about the general requirements as well as the most common selected items of cost. The discussion will also address frequent problem areas so that you can avoid potentially costly disallowances. After attending this session, you will be able to distinguish between allowable costs and unallowable costs.

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