Grant & Contract Glossary
A cost incurred by a recipient that is:
1) Reasonable for the performance of the award;
2) Allocable;
3) In conformance with any limitations or exclusions set forth in the federal cost principles applicable to the organization incurring the cost or in the Notice of Grant Award as to types or amount of cost items;
4) Consistent with internal regulations, policies and procedures that apply uniformly to both federally-funded and other activities of the organization;
5) Accorded consistent treatment;
6) Determined in accordance with generally accepted accounting principles; and
7) Not included as a cost in any other federally-funded grant (unless specifically authorized).
