The general requirement is three years, or until the known need for the record (like pending legal or insurance issues) has expired. We recommend you keep them for a minimum of five years, because you may need records for parts
What costs are “modified” in the 10% de minimus?
When you elect to apply the 10% de minimus rate rather than develop an indirect cost rate proposal, you are not required to submit a proposal for approval. There are, though, some assumptions about this that you need to know.
Are your paying your consumer as an employee or a contractor?
The center has some odd jobs around the place — lawn mowing, cleaning, maybe web development or support of the Facebook page. Some centers pay consumers as peer support mentors. Is it okay to hire a consumer to do
So are T-shirts an allowable cost?
Question from the DSE: If T-shirts are purchased for the attendees of a youth event (11 t-shirts altogether) and they aren’t souvenirs, are they allowable? I’m looking at uniform guidance trying to decide, I initially denied it but rethinking things.
Do other states or federal departments help support Centers?
There are a number of different ways that centers are funded through their states or through other federal funds. Some states provide state general funds. This usually requires the passage of a bill or something in the state budget designated
How consistent does my indirect cost rate need to be?
A DSE called during an on-site review of a center to clarify what a center was doing with its indirect costs. “They are claiming the 10% di minimus.” Okay, so far so good. “But if they have any costs over
Understanding Your CIL’s Audited Financial Statements
by John F Heveron, Jr. Principal, Heveron and Company CPAs, Rochester NY Here is a quick overview of audited financial statements and what to look for when reading them. Auditors Cover Letter/Opinion This is addressed to the board and is
Allowable costs: Fines, penalties, damages, legal defense?
45 CFR §75.435 and 75.441 address the costs of these legal issues. The first is very detailed, so I am only going to touch on highlights. If you are working through this, your attorney will want to review the entire
Are fund raising costs allowed? How is fund raising different from resource development?
In the Code of Federal Regulations, 45 CFR §75.442, fund raising as a cost line item is defined as the costs of organized fund raising, including financial campaigns, endowment drives, solicitation of gifts and bequests, and similar expenses incurred to
Are advertising and public relations allowed? Conferences?
My typical answer to whether a cost is allowed is “It depends”. Remember we are talking about whether you are allowed to use federal grant funds (usually Part B and Part C funds) to pay for these things. 45 CFR