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DocuSign Envelope ID: 3068A826-D9DD-44A9-A383-16200B061238
<br /> Agreement No.23-1439-39187
<br /> cost policy statement or disclosure narrative statement. Grantor will accept that Indirect Cost Rate, up to any
<br /> statutory, rule-based or programmatic limit.
<br /> (d) A grantee who does not have a current negotiated rate, may elect to charge a de minimis rate of 10%
<br /> of modified total direct costs which may be used indefinitely. No documentation is required to justify the 10% Indirect
<br /> Cost Rate. 2 CFR 200.414(f).
<br /> 7.3 Transfer of Costs. Cost transfers between Grants,whether as a means to compensate for cost overruns or
<br /> for other reasons, are unallowable. 2 CFR 200.451.
<br /> 7.4 Higher Education Cost Principles. The federal cost principles that apply to public and private institutions of
<br /> 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 Organizations that
<br /> are not institutions of higher education are set forth in 2 CFR Part 200 subpart E, unless exempt under 2 CFR Part 200
<br /> Appendix VIII.
<br /> 7.6 Government Cost Principles. The federal cost principles that apply to state, local and federally-recognized
<br /> 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 analysis and
<br /> the determination, negotiation and allowance of costs that apply to commercial organizations are set forth in 48 CFR Part
<br /> 31.
<br /> 7.8 Financial Management Standards. The financial management systems of Grantee must meet the following
<br /> standards:
<br /> (a) Accounting System. Grantee organizations must have an accounting system that provides accurate,
<br /> current, and complete disclosure of all financial transactions related to each state-and federally-funded Program.
<br /> Accounting records must contain information pertaining to state and federal pass-through awards, authorizations,
<br /> obligations, unobligated balances, assets, outlays, and income. These records must be maintained on a current basis
<br /> and balanced at least quarterly. Cash contributions to the Program from third parties must be accounted for in the
<br /> general ledger with other Grant Funds. Third party in-kind (non-cash)contributions are not required to be recorded in
<br /> the general ledger, but must be under accounting control, possibly through the use of a memorandum ledger. To
<br /> comply with 2 CFR 200.305(b)(7)(i)and 30 ILCS 708/520, Grantee shall use reasonable efforts to ensure that
<br /> funding streams are delineated within Grantee's accounting system. 2 CFR 200.302.
<br /> (b) Source Documentation. Accounting records must be supported by such source documentation as
<br /> canceled checks, bank statements, invoices, paid bills, donor letters, time and attendance records, activity reports,
<br /> travel reports, contractual and consultant agreements, and subaward documentation. All supporting documentation
<br /> should be clearly identified with the Award and general ledger accounts which are to be charged or credited.
<br /> (i) The documentation standards for salary charges to grants are prescribed by 2 CFR 200.430, and
<br /> in the cost principles applicable to the entity's organization (Paragraphs 7.4 through 7.7).
<br /> (ii) If records do not meet the standards in 2 CFR 200. 430, then Grantor may notify Grantee in
<br /> PART TWO, PART THREE or Exhibit G of the requirement to submit Personnel activity reports. 2 CFR
<br /> 200.430(i)(8). Personnel activity reports shall account on an after-the-fact basis for one hundred percent
<br /> (100%)of the employee's actual time, separately indicating the time spent on the Grant, other grants or
<br /> projects, vacation or sick leave, and administrative time, if applicable. The reports must be signed by the
<br /> employee, approved by the appropriate official, and coincide with a pay period.These time records should be
<br /> used to record the distribution of salary costs to the appropriate accounts no less frequently than quarterly.
<br /> (iii) Formal agreements with independent contractors, such as consultants, must include a
<br /> description of the services to be performed, the period of performance,the fee and method of payment, an
<br /> itemization of travel and other costs which are chargeable to the agreement, and the signatures of both the
<br /> contractor and an appropriate official of Grantee.
<br /> (iv) If third party in-kind (non-cash)contributions are used for Grant purposes, the valuation of these
<br /> contributions must be supported with adequate documentation.
<br /> State of Illinois
<br /> GRANT AGREEMENT FISCAL YEAR 2023/1 18 22
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