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7.4.6 Cost-sharing Confirmation Report

Policy

Cost sharing is the dollar amount of contributions the University provides to share the costs of a grant/project. The portion of dollars committed for Faculty, Administrative/Professional staff, and Civil Service employees is confirmed by the department through "time and effort reporting."

All other items (i.e., telephone service, equipment, supplies, etc.) are verified with a form called the Cost-sharing Confirmation Report, unless verified by other correspondence with Grants Accounting.  This report is sent out for each grant with a cost-sharing commitment for anything other than personnel. (explanation of Cost-sharing Confirmation Report example).

The fiscal agent of the grant is required to sign the form confirming that the amounts stated are a reasonable estimate of the services and products committed to the project. Any significant differences should be reflected on the form upon its return. The reports are prepared according to the grant requirements, or at least once a year.

OMB Circular A-110 states, among other things, that cost sharing is verifiable from the recipients records, that it is not included as contributions for any other federally funded program, and that it has not been paid by another federally funded program.

Guidelines for Cost-sharing Confirmation Reporting

  • The Cost-sharing Confirmation Report requires a signature from the fiscal agent of the grant.
  • The report should reflect the fair market value of services or products committed by the department or college to contribute toward the costs of the project. If the amounts on the form differ significantly from the actual contributions, changes should be made directly on the form.
  • The reports should be returned to the Comptroller's Office, Hovey Hall 102 (Mail Code 1200).

Initiating body: Division of Finance and Planning

Contact: Comptroller's Office (309-438-5674)

Revised on: 06/2002, 02/2003


2016-07-28T12:13:00.713-05:00 2016
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