Per 2 CFR 200 (Appendix III C.7) the negotiated rate
in effect at the time of the initial award must be used through the life
of the Federal award. The F&A implementation memo has been updated
to clarify this Uniform Guidance requirement.
So what does that mean for multi-year proposal budgets and existing awards?
*
There is no need to include award F&A budget escalations for out
years on multi-year proposals. Use the F&A rate in effect for all
years of the budget.
*
OCGA will inactivate previously created projects to account for the
escalation change. Inactivation of these projects will begin next week
and the individual departments notified once the project has been
inactivated.
* Revised budgets for existing awards will not be needed.
The revised, full F&A implementation memo can be found on Cost Accounting's site: https://financialservices.umbc.edu/1226-2/
