Cost Principles

There are four Cost Principles from Uniform Guidance provide general accounting “rules” for colleges and universities.

These Cost Principles outline guidelines that must be followed for sponsored program proposal budget costs & award expenditures.

Costs must be:

• Reasonable,
• Allocable,
• Allowable, and
• Consistently Treated.

Review:

• GIM 23: Costing Policy
• Post Award Fiscal Compliance guidance on the Four Cost Principles