Current as of October 03, 2022 | Updated by FindLaw Staff
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(a) Before the Secretary sets the amount of a new grant, the Secretary does a cost analysis of the project. The Secretary:
(1) Verifies the cost data in the detailed budget for the project;
(2) Evaluates specific elements of costs; and
(3) Examines costs to determine if they are necessary, reasonable, and allowable under applicable statutes and regulations.
(b) The Secretary uses the cost analysis as a basis for determining the amount of the grant to the applicant. The cost analysis shows whether the applicant can achieve the objectives of the project with reasonable efficiency and economy under the budget in the application.
(Authority: 20 U.S.C. 1221e–3 and 3474)
Cite this article: FindLaw.com - Code of Federal Regulations Title 34. Education § 34.75.232 The cost analysis; basis for grant amount - last updated October 03, 2022 | https://codes.findlaw.com/cfr/title-34-education/cfr-sect-34-75-232.html
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