Removal of Potentially Unallowable Expenditures on Federal Awards for FY 98-99
John P. Kruczek, University Controller Tom Walsh, Director of Sponsored Research
MEMORANDUM NUMBER 99-09 described the procedure for requesting exemptions from the Cost Accounting Standards on Federal Awards for certain items that are normally unallowable as direct charges to Federal Awards under the University of Florida Cost Accounting Standards Board Disclosure Statement. The purpose of this memo is to alert researchers and research administrators to the need to file for such exemptions for expenditures made in FY 98-99 prior to May 1, 1999. Failure to receive approval of such exemption will require that the charges be removed from the Federal Award by cost transfers from unrestricted accounts prior to June 1, 1999. The accounting data for FY 98-99 will be the basis for the next University of Florida Indirect Cost Proposal and unallowable direct charges must be removed, either by cost transfers or exemptions, prior to preparation of the proposal shortly after the close of the fiscal year on June 30, 1999. Thank you in advance for your assistance.