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Determined by the Office of Management and Budget (OMB), the sponsor's requirements and/or university policy. OMB Circular A-21 defines allowable costs as those that are:
· Reasonable
· Allocable to the project
· Given consistent treatment by use of generally accepted accounting principles
· Conform to any limitations or exclusions set forth by the sponsored agreement or OMB Circular A-21"
· Reasonable
· Allocable to the project
· Given consistent treatment by use of generally accepted accounting principles
· Conform to any limitations or exclusions set forth by the sponsored agreement or OMB Circular A-21"