§ 1108.180. Expenditures.
183 words·~1 min read·
/us/cfr/t2/s§ 1108.180·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Expenditures mean charges made by a recipient or subrecipient to a project or program under an award.
(a)The charges may be reported on a cash or accrual basis, as long as the methodology is disclosed and is consistently applied.
(b)For reports prepared on a cash basis, expenditures are the sum of:
(1)Cash disbursements for direct charges for property and services;
(2)The amount of indirect expense charged;
(3)The value of third-party in-kind contributions applied; and
(4)The amount of cash advance payments and payments made to subrecipients.
(c)For reports prepared on an accrual basis, expenditures are the sum of:
(1)Cash disbursements for direct charges for property and services;
(2)The amount of indirect expense incurred;
(3)The value of third-party in-kind contributions applied; and
(4)The net increase or decrease in the amounts owed by the recipient or subrecipient for:
(i)Goods and other property received;
(ii)Services performed by employees, contractors, subrecipients, and other payees; and
(iii)Programs for which no current services or performance are required, such as annuities, insurance claims, or other benefit payments.