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Agreement No.A�CYZ03066 FY.2020 <br /> 7.2. Indirect Cost Rate Submission. <br /> (a) All Grantees must make an Indirect Cost Rate election in the Grantee Portal,even <br /> grantees that do not charge or expect to charge Indirect Costs. 44 III.Admin.Code 7000.420(d). <br /> (b) A Grantee must submit an Indirect Cost Rate Proposal in accordance with federal <br /> regulations,in a format prescribed by Grantor. For Grantees who have never negotiated an Indirect Cost <br /> Rate before,the Indirect Cost Rate Proposal must be submitted for approval no later than three months <br /> after the effective date of the Award. For Grantees who have previously negotiated an Indirect Cost Rate, <br /> the Indirect Cost Rate Proposal must be submitted for approval within 180 days of the Grantee's fiscal <br /> year end,as dictated in the applicable appendices,such as: <br /> (i) Appendix V and VII to 2 CFR Part 200 governs Indirect Cost Rate Proposals for <br /> state and local governments, <br /> (ii) Appendix III to 2 CFR Part 200 governs Indirect Cost Rate Proposals for public <br /> and private institutions of higher education, <br /> (iii) Appendix IV to 2 CFR Part 200 governs Indirect(F&A)Costs Identification and <br /> Assignment,and Rate Determination for Nonprofit Organizations,and <br /> (iv) Appendix V to Part 200 governs state/Local Governmentwide Central Service <br /> Cost Allocation Plans. <br /> (c) A Grantee who has a current,applicable rate negotiated by a cognizant federal agency <br /> shall provide to Grantor a copy of its Indirect Cost Rate acceptance letter from the federal government <br /> and a copy of all documentation regarding the allocation methodology for costs used to negotiate that <br /> rate,e.g.,without limitation,the cost policy statement or disclosure narrative statement. Grantor will <br /> accept that indirect Cost Rate, up to any statutory,rule-based or programmatic limit. <br /> 7.3. Transfer of Costs.Cost transfers between Grants,whether as a means to compensate for cost <br /> overruns or for other reasons,are unallowable.See 2 CFR 200.451. <br /> 7.4. Higher Education Cost Principles.The federal cost principles that apply to public and private <br /> institutions of higher education are set forth in 2 CFR Part 200 Subpart E and Appendix III. <br /> 7.5. Nonprofit Organizations Cost Principles.The federal cost principles that apply to Nonprofit <br /> Organizations that are not institutions of higher education are set forth in 2 CFR Part 200 Subpart E,unless <br /> exempt under 2 CFR 200 Appendix VIII. <br /> 7.6. Government Cost Principles.The federal cost principles that apply to state,local and federally- <br /> recognized Indian tribal governments are set forth in 2 CFR Part 200 Subpart E,Appendix V,and Appendix VII. <br /> 7.7. Commercial Organization Cost Principles.The federal cost principles and procedures for cost <br /> analysis and the determination,negotiation and allowance of costs that apply to commercial organizations are set <br /> forth in 48 CFR Part 31. <br /> 7.8. Financial Management Standards.The financial management systems of Grantee must meet the <br /> following standards: <br /> (a) Accounting System.Grantee organizations must have an accounting system that <br /> provides accurate,current,and complete disclosure of all financial transactions related to each state-and <br /> State Of Illinois. <br /> GRANT AGREEMENT FISCAL YEAR 2020/1 14 19 <br /> Published Revision: 2019.12.16.14.30.54 613 <br /> Page: 9 of 44 <br />