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2010-09-24
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Cost Principles for Educational Institutions
Part II
Notices
D09002ee1be04c0f1
D09002ee1be04c177
United States
Office of Management and Budget
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org
United States Government Agency or Subagency
The Office of Management and Budget (OMB) revises OMB Circular A-21, ``Cost Principles for Educational Institutions,'' by incorporating four Cost Accounting Standards applicable to educational institutions, issued by the Cost Accounting Standards Board (CASB) on November 8, 1994 (59 FR 55746), and extending these standards to all sponsored agreements. The revision also: requires certain large institutions to disclose their cost accounting practices by the submission of a Disclosure Statement prescribed by the CASB; amends the definition of equipment; eliminates in 1998 the use of special cost studies to allocate utility, library and student services costs; and, requires the use of fixed facilities and administrative cost rates for the life of sponsored agreements. Further, the revision establishes cost negotiation cognizant agency responsibilities, replaces the term ``indirect costs'' with ``facilities and administrative costs'' (to describe more accurately the various cost components of sponsored agreements), clarifies the policy for a change from use allowance to depreciation, adds criteria to interest allowability, and disallows tuition benefits for employee family members. Finally, the revision rescinds OMB Circular A-88, ``Indirect Cost Rates, Audits, and Audit Follow-up at Educational Institutions,'' in its entirety. The recompilation of Circular A-21 in its entirety appears after the revision.
61 FR 20880
https://www.govinfo.gov/app/details/FR-1996-05-08/96-11111
96-11111
fr08my96-129
3110-01-P
https://www.govinfo.gov/app/details/FR-1996-05-08/96-11111
https://www.govinfo.gov/content/pkg/FR-1996-05-08/html/96-11111.htm
https://www.govinfo.gov/content/pkg/FR-1996-05-08/pdf/96-11111.pdf
62 p.
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61 FR 20880
Cost Principles for Educational Institutions; Federal Register Vol. 61, Issue
NOTICE
96-11111
II
OFFICE OF MANAGEMENT AND BUDGET
1996-05-08
3110-01-P
96-11111
Final Revision and Recompilation of OMB Circular A-21.
The Office of Management and Budget (OMB) revises OMB Circular A-21, ``Cost Principles for Educational Institutions,'' by incorporating four Cost Accounting Standards applicable to educational institutions, issued by the Cost Accounting Standards Board (CASB) on November 8, 1994 (59 FR 55746), and extending these standards to all sponsored agreements. The revision also: requires certain large institutions to disclose their cost accounting practices by the submission of a Disclosure Statement prescribed by the CASB; amends the definition of equipment; eliminates in 1998 the use of special cost studies to allocate utility, library and student services costs; and, requires the use of fixed facilities and administrative cost rates for the life of sponsored agreements. Further, the revision establishes cost negotiation cognizant agency responsibilities, replaces the term ``indirect costs'' with ``facilities and administrative costs'' (to describe more accurately the various cost components of sponsored agreements), clarifies the policy for a change from use allowance to depreciation, adds criteria to interest allowability, and disallows tuition benefits for employee family members. Finally, the revision rescinds OMB Circular A-88, ``Indirect Cost Rates, Audits, and Audit Follow-up at Educational Institutions,'' in its entirety. The recompilation of Circular A-21 in its entirety appears after the revision.
The effective date of this revision of Circular A-21 is May 8, l996, unless otherwise noted within this revision. Circular A-88 is rescinded effective July 1, l996.
Federal Register
Vol. 61, no. 90
Office of the Federal Register, National Archives and Records Administration
1996-05-08
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