To ensure compliance with the Federal Cost Accounting Standards applicable to educational institutions, as follows: 1. CAS 501: Consistency in Estimating, Accumulating and Reporting Costs. 2. CAS 502: Consistency in Allocating Costs Incurred for the Same Purpose. 3. CAS 505: Accounting for Unallowable Costs. 4. CAS 506: Cost Accounting Period.
May 2021Responsible Office
Principal Investigators must ensure compliance with CAS 501 by maintaining consistency in the manner in which budgets are prepared for proposal submission and funds are budgeted and expenses accounted for after awards are received.
Costs incurred for the same purpose, in like circumstances, must be given consistent treatment in the accounting system in order to comply with CAS 502. That is, each type of cost must be charged consistently as either a direct cost or as part of the F&A rate costs (unrestricted fund).
Unallowable costs must be identified and excluded from any billing, claim, or proposal submitted to the Federal government.
Rates (e.g., service center, F&A) used for estimating, accumulating, and reporting costs must be based on the costs incurred during the University fiscal year.
Research Services is responsible for determining the appropriate treatment of costs and for the maintenance of the CAS Disclosure Statement.
Office of Research Services
The source of this document is Research Services.