Costs that are (a) necessary and reasonable; (b) allocable to sponsored agreements under the principles and methods outlined in the Uniform Guidance ; (c) given consistent treatment through application of those generally accepted accounting principles appropriate to the circumstances; and (d) conform to any limitations or exclusions set forth in 2 CFR 200 or in the sponsored agreement as to types or amounts of cost items. (2 CFR 200.403).
Example: A piece of equipment required to conduct the study is an allowable cost to the project but entertainment costs are not.
Glossary of Terms
This page allows you to search or browse definitions of terms from the "definitions" sections of Administrative Policies. Please note that when definitions were specific to a particular policy, they were not included.