Actual Costs Incurred Clause Samples

Actual Costs Incurred. Fee Schedule

Actual Costs Incurred. MPOs not wishing to be reimbursed for indirect costs through an indirect rate may have indirect costs reimbursed as actual costs incurred – i.e. as direct costs. • MPOs may not utilize both an indirect cost rate and be reimbursed for indirect costs as actual costs incurred.

Actual Costs Incurred. The Auditor verifies that the actual expenditure for a selected item was incurred by and pertains to the Beneficiary(ies) or its (their) af- filiated entity(ies). The Auditor should take into account the detailed conditions for actual costs incurred. For this purpose the Auditor examines supporting documents (e.g. invoices, contracts) and proof of payment. The Auditor also examines proof of work done, goods received or services rendered and he/she verifies the existence of assets if applicable. The costs incurred prior to the disbursement of the last Grant Tranche but not yet paid can be accepted as actual costs incurred, provided that (1) a liability exists (order, invoice or equivalent) for services rendered or goods supplied prior to the disbursement of the last Grant Tranche of the Sub-Project, (2) the final costs are known and (3) these costs are listed in the Progress Report together with the expected date of payment (see Article 5.1 of the Grant Agree- ment). The Auditor verifies whether these cost items have effectively been paid or a commitment has been made at the moment of the Auditor’s verification.