Orange County NC Website
and propriety of the charges, as referenced in 49 C.F.R. 18, the Office of Management and <br />Budget Circulars A-87, "Costs Principles for State, Local, and Indian Tribal Governments" and <br />A-102 "Grants and Cooperative Agreements with State and Local Governments." <br />c. Allowable Costs. Expenditures made by the Contractor shall be reimbursed <br />as allowable costs to the extent they meet all of the requirements set forth below. They must <br />be: <br />(1) Consistent with the Project Description, plans, specifications, and <br />Project Budget and all other provisions of this Agreement; <br />(2) Necessary in order to accomplish the Project; <br />(3) Reasonable in amount for the goods or services purchased; <br />(4) Actual net costs to the Contractor, i.e., the price paid minus any <br />refunds (e.g., refundable sales and use taxes pursuant to N.C.G.S. 105-164.14), rebates, or <br />other items of value received by the Contractor that have the effect of reducing the cost actually <br />incurred; <br />(5) Incurred (and be for work pertormed) within the period of performance <br />of this Agreement unless specific authorization from the Department to the contrary is received; <br />(6) In conformance with the standards for allowability of costs set forth in <br />Office of Management and Budget (OMB) Circular A-87 "Cost Principles for State, Local, and <br />Indian Tribal Governments;" <br />(7) Satisfactorily documented; and <br />(8) Treated uniformly and consistently under accounting principles and <br />procedures approved or prescribed by the Department. <br />Section 6. Reporting. Record Retention, and Access. <br />a. Reports. The Contractor shall advise the Department regarding the progress <br />of the Project at such time and in such a manner as the Department may require, including, but <br />07-SC-056 Page 15 of 59 <br />Orange County <br />