Utah Code Title 53F. Public Education System--Funding § 53F-1-104. Education monitoring and funds management

(a) “Allocable cost” means a cost for goods or services that are chargeable or assignable to a state award or cost objective in accordance with relative benefits an LEA receives.

(b) “Reasonable cost” means a cost that, in nature and amount, does not exceed an amount that a prudent person would incur under the circumstances prevailing at the time the decision was made to incur the cost.

(c) “State award” means:

(a) the cost is necessary and reasonable for, and allocable to, the performance of the state award;

(b) the cost conforms to any limitations or exclusions that apply uniformly to the LEA's other activities;

(c) the LEA accorded the cost consistent treatment among programs;

(d) the LEA determined the cost in accordance with generally accepted accounting principles;

(e) the LEA adequately documented the cost; and

(f) the LEA incurred the cost during the approved budget period.

(a) whether the cost is of a type generally recognized as ordinary for:

(b) the restraints or requirements imposed by:

(c) market prices for comparable goods or services in the geographic area;

(d) whether an individual involved in a decision to incur the cost acted with prudence in the circumstances considering the individual's responsibilities to:

(e) whether the LEA significantly deviated from the LEA's established practices and policies concerning incurring costs so that the costs the LEA incurs for the performance of the state award are unjustifiably increased.

(a) the LEA incurred the cost specifically for the state award;

(b) the cost:

(c) the cost is necessary to the overall operation of the LEA and is assignable in part to the state award.