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In order to ensure that federal grant awards are handled in a fiscally responsible manner, the Office of Management and Budget (OMB) issued Circular A-133 and extended the audit requirements to all grantees, including for-profit Companies. This means you – SBIR awardees! Organizations with revenues that exceed $500,000 per year or more in federal funds [...]
When a grantee charges the government for equipment as a direct charge for equipment used in the fulfillment of grants the grantee retains possession of the equipment during and after the period of performance. Assuming the equipment has a useful life beyond one year, you or your accountant might think that the equipment is a [...]
The challenge of Grantees to attract and retain top employees is made more difficult given the Congressional statutory restriction imposed on Health and Human Services (HHS) Appropriations that limits the maximum rate of compensation that can be paid to an individual. The “salary rate cap” language contained in the NIH Grants Policy Statement limits the [...]
Are Patent Costs Unallowable in F&A Rates & Indirect Cost Rate Agreements? They may be. The Bayh-Dole Act (BDA) of 1980 forms the foundation of ownership rights of intellectual property arising from Federal Government funded research. However, BDA is largely misunderstood by the various Government Agencies as well as the Government auditors. Federal Acquisition Regulation [...]