Cost Principles

Principal Investigators Receiving Federal Research Funds are Required to Adhere to the Following Grants Management Guidelines:

On December 26, 2013, the Office of Management and Budget (OMB) issued the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (also known as the “Uniform Guidance” or 2 CFR200 ). The Uniform Guidance consolidates, streamlines and supersedes the eight existing OMB Circulars including Circular A-21, A-110, and A-133. Included in this new guidance are definitions, uniform administrative requirements (pre-award & post-award), cost principles and audit requirements. The new guidance, which affects all federally funded grants and contracts, took effect on December 26, 2014.

Currently, through 6/30/2020, Furman University’s on-campus indirect cost rate (F&A) is 43.9% of all DIRECT COSTS, excluding capital expenditures and sub-awards. The University capital expenditure threshold is $5,000. Furman’s off-campus rate, if the research or project will take place off-campus, is 12%. [However, at times a federal agency will specify a maximum direct cost rate, such as 25%, to be used for a specific grant competition.]