The Latest Lowdown on Government Money
It may seem like manna from heaven, but there are pitfalls to be aware of.
Recently a new Federal Office of Management and Budget (OMB) Guidance — Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards — was passed at the federal level. Bottom line? It states that local government, including towns, counties and states, have to pay indirect costs of providing services when nonprofits contract or get grants with them. The default is 10 percent of the indirect costs if you don't negotiate.
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