R2017-154 Execution & Amendment of FY 2018 Transit Operating Assistance Grant

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Agreement No.4876(18-1141-1344) (ii) A Grantee who is allowed to charge Indirect Costs under federal or state statutes,state administrative rules,and agency or program rules,regulations and policies. (b) A Grantee must submit an Indirect Cost Rate Proposal in accordance with federal regulations for approval no later than three months after the effective date of the Award,in a format prescribed by Grantor. (c) A Grantee who has a current,applicable rate negotiated by a cognizant Federal agency shall provide to Grantor a copy of its Indirect Cost Rate acceptance letter from the Federal government. Grantor will accept that Indirect Cost Rate,up to any statutory,rule-based or programmatic limit. 7.3. Transfer of Costs.Cost transfers between Grants,whether as a means to compensate for cost overruns or for other reasons,are unallowable.See 2 CFR 200.451. 7.4. Higher Education Cost Principles.The Federal cost principles that apply to public and private institutions of higher education are set forth in 2 CFR Part 200 Subpart E and Appendix III. 7.5. Nonprofit Organizations Cost Principles.The Federal cost principles that apply to Nonprofit Organizations that are not institutions of higher education are set forth in 2 CFR Part 200 Subpart E,unless exempt under 2 CFR 200 Appendix VIII. 7.6. Government Cost Principles.The Federal cost principles that apply to State,local and Federally- recognized Indian tribal governments are set forth in 2 CFR Part 200 Subpart E,Appendix V,and Appendix VII. 7.7. Commercial Organization Cost Principles.The Federal cost principles and procedures for cost analysis and the determination,negotiation and allowance of costs that apply to commercial organizations are set forth in 48 CFR Part 31. 7.8. Financial Management Standards.The financial management systems of Grantee must meet the following standards: (a) Accounting System.Grantee organizations must have an accounting system that provides accurate,current,and complete disclosure of all financial transactions related to each State-and Federally-funded Program.Accounting records must contain information pertaining to State and Federal pass-through awards,authorizations,obligations,unobligated balances,assets,outlays,and income. These records must be maintained on a current basis and balanced at least quarterly.Cash contributions to the Program from third parties must be accounted for in the general ledger with other Grant Funds. Third party in-kind(non-cash)contributions are not required to be recorded in the general ledger,but must be under accounting control,possibly through the use of a memorandum ledger. See 2 CFR 200.302. (b) Source Documentation.Accounting records must be supported by such source documentation as canceled checks,bank statements,invoices,paid bills,donor letters,time and attendance records,activity reports,travel reports,contractual and consultant agreements,and subaward documentation.All supporting documentation should be clearly identified with the Award and general ledger accounts which are to be charged or credited. (i) The documentation standards for salary charges to grants are prescribed by 2 CFR 200.430,and in the cost principles applicable to the entity's organization(Paragraphs 7.4 State of Illinois GRANT AGREEMENT FISCAL YEAR 2018/2 27 17 Page 9 of 46