Cost Principles for Federal Grants: 2 CFR Part 200 (Subpart e) and FAR 31.2

Successful grants managers understand how the Federal cost principles affect their awards. Gain a firm grounding and practical experience in the concepts central to cost principles by applying them to different recipient types. Use the cost principles throughout the grants lifecycle: budget development and review, spending decisions, and site visits and desk reviews or audits. This is a core course in all tracks of the GMCP™.

Learning Objectives

• Summarize the general history of the cost principles and how they currently apply
• Conduct research using the cost principles to answer cost allowability questions
• Practice applying the cost principles to on-the-job scenarios

Course Topics

Development and Applicability of the Cost Principles

• Development of Governmentwide Cost Principles
• Cost Principles Applicability

Basic Concepts

• Allowability
• Reasonableness
• Allocability
• Direct and Indirect Costs
• Selected Items of Cost
• Complex Questions Relating to Allowability

Using and Applying the Cost Principles on the Job

• Budget Development and Review
• Spending Decisions
• Documenting Costs
• Site Visits
• Audits and Audit Resolution