Can We Use Grant Funds For Travel Expenses? - Fixanswer

What types of grant writing/reporting costs are allowable on an Award?

Grant writing and reporting costs that are required as part of the terms of the Award are allowable

. For example, progress reports, annual reports, and/or technical reports are required and therefore, would be allowable.

What three factors determine whether a cost can be charged to an award?

Be necessary and reasonable;
Be allocable;
Be accorded consistent treatment;
Be net of all applicable credits;
Be determined in accordance with generally accepted accounting principles;

What are the disadvantages of grants?

You need to do time-consuming research on the granting agency before writing the grant.
You need a person talented and experienced in writing grants who is also very familiar with your organization.
Competition is fierce, and the success rate is low. …
There are strings attached to the money you receive.

What are the 4 types of grants?

Competitive Grant – Based on the Merits. …
Formula Grant – Based on Predetermined Award. …
Continuation – Renewal Grants. …
Pass-Through Grants – Issued by a Federal Agency.

What are allowable costs for federal grants?

“Allowable Costs” refers to items of cost, that in general, are

costs that can be funded with federal grant dollars as long as the cost fits within a framework of responsible stewardship of public funds

.

What are federal cost principles?

Federal cost principles are

regulations that help recipients and subrecipients determine eligible costs for specific activities identified in grant agreements and contracts and outlines financial management requirements including audits

.

Are office supplies allowed on federal grants?

General office supplies will normally not be allowed as a direct charge to a federal award

. Because of their general nature they cannot be identified with a specific project with a high degree of accuracy.

Is foreign travel allowed on NIH grants?

Travel.

Funds may be used for the travel of staff, speakers, participants, and attendees, if identified in the application and approved at the time of award

.

Is overtime allowed on NIH grants?

Overtime payments are allowable, unless otherwise restricted (i.e. by your federal award or program guidance) only to the extent that payment for such services is in accordance with the policies of the organization.

Where are the grant administrative requirements cost principles and audit requirements contained?

Part 200

): 2 C.F.R Part 200 establishes uniform administrative requirements, cost principles, and audit requirements for Federal awards to non-Federal entities.

Does 2 CFR 200 apply to for profit entities?

(a) As stated in 2 CFR 910.122, unless otherwise noted in part 910, the definition of Non-Federal entity found in 2 CFR 200.69 is expanded for DOE to include for-profit organizations in addition to states, local governments, Indian tribes, institutions of higher education (IHE), and nonprofit organizations.

What is OMB Circular A 87?

Purpose. This Circular establishes principles and standards for determining costs for Federal awards carried out through grants, cost reimbursement contracts, and other agreements with State and local governments and federally recognized Indian tribal governments (governmental units).

Why is a grant good?

Grants offer a sum of money towards the total cost of a project, and this money does not have to be repaid

. They’re often funded by Government initiatives, so target certain types of businesses and projects to help enable growth in these areas.

What are the advantages and disadvantages of grants?

Provides financial investment when other sources of capital are unavailable to initiate or expand programs, products, or services.
Unlike loans, they do not have to be repaid.
They do not require the owners to surrender any equity in the business.

Are grants free?

A grant is money, or a voucher, that contributes towards the cost of you buying something. Although it may not cover the full cost of the item, meaning you’ll have to cough up the rest yourself,

it’s almost always completely free

.

Can I get free money?

You may be able to earn free cash from stuff you already do daily

, receive financial support, apply for government assistance, use online tools or cash apps for free money, crowdfund and take other steps. The extra funds can be used to help pay bills.

What are examples of grants?

Community Development Block Grant.
Alcohol, Drug Abuse, and Mental Health Services Block Grant.
Local Law Enforcement Block Grant.
National Institutes of Health for bioscience research.
National Science Foundation for physical science research.

Are computers allowed on NSF grants?

“General purpose equipment (i.e., personal computers and/or commercial software) is

not allowable as a direct cost unless specifically approved by the NASA Award Officer

.

Can you charge depreciation to a federal grant?

There are costs that you can’t depreciate

, like the cost of the land. You will need to establish the useful service or useful life of the building. Then you will compute it’s monthly value over its lifetime and that is your monthly depreciation that can be charged to your grant as a direct or indirect cost.

Are visa fees allowed on NIH grants?

Generally, allowable direct cost. as part of recruiting costs on an NIH grant, as long as the institution has an employee/employer relationship with the individual.

Visa costs may also be allowable when identified in specific FOAs or when within the scope of an approved research project

..

What is an allowable cost?

Allowable Costs

An allowable cost is

a cost that can be paid by your contract or grant

. A cost is allowable only if: The cost is reasonable; it reflects what a prudent person might pay. The cost is allocable; the contract or grant that paid the expense benefits from it.

Are all reasonable costs allowable?

(a) A cost is allowable only when the cost complies with all of the following requirements: (1) Reasonableness. (2) Allocability. (3) Standards promulgated by the CAS Board, if applicable, otherwise, generally accepted accounting principles and practices appropriate to the circumstances.

Can indirect costs be used as match?

2. What can be used as match? At some campuses and in some units, Indirect Costs received by the university on grant expenditures are returned to academic units for re-investment. In these cases, these funds are considered to be non- Federal cash match, and

may be used

.