Classification of Costs. For the purpose of the Partnership apportioning assessments against Member Towns, costs shall be divided into two categories: Capital Costs and Operating Costs, as defined herein.
Classification of Costs. For the purpose of apportioning assessments levied by the District against the member c o m m u n i t i e s , costs shall be divided into two categories: capital costs and operating costs.
Classification of Costs. As identified in the Auditor General’s review of contracted services administered by the Department of Elder Affairs, administrative costs reported in the audited financial statements of the contractors and subcontractors varied widely. In an attempt to more consistently report administrative costs, the following guidelines should help to more clearly identify the appropriate classification and allocation of administrative costs. These guidelines apply to the preparation of the Statement of Functional Expenses, (see template) as well as to the unit cost methodology used in determining future contracted unit rates and actual unit costs.
Classification of Costs. There is no uni- versal rule for classifying certain costs as ei- ther direct or indirect under every account- ing system. A cost may be direct with re- spect to some specific service or function, but indirect with respect to the grant or other ultimate cost objective. It is essential, therefore, that each item of cost be treated consistently either as a direct or an indirect cost. Specific guides for determining direct and indirect costs allocable under grant pro- grams are provided in the sections which fol- low.
Classification of Costs. As identified in the Auditor General’s review of contracted services administered by the Department of Elder Affairs, administrative costs reported in the audited financial statements of the contractors and subcontractors varied widely. In an attempt to more consistently report administrative costs, the following guidelines should help to more clearly identify the appropriate classification and allocation of administrative costs. These guidelines apply to the preparation of the Statement of Functional Expenses, (see template) as well as to the unit cost methodology used in determining future contracted unit rates and actual unit costs. [1] Footnote 6 to paragraph 27 of FASB Statement No. 117 Administrative Costs: Costs incurred for supporting activities such as management and general, and fund raising. Management and general activities are those that are not identifiable with a single program or fund-raising activity but that are indispensable to the conduct of those activities and to an organization’s existence. They include oversight, business management, general record keeping, budgeting, financing, and all management and administration except for direct conduct of program services or fund-raising activities. The costs of oversight and management usually include the salaries and expenses of the governing board, the chief executive officer of the organization, and the supporting staff. However, if such staff spend a portion of their time directly supervising program services, their salaries and expenses should be allocated among those functions, proportionate to time spent on those activities. The costs of disseminating information to inform the public of the organization’s “stewardship” should similarly be classified as management and general expenses.[2] According to the Office of Management and Budget, general administration and general expenses are those that have been incurred for the overall general executive and administrative offices of the organization and other expenses of a general nature which do not relate solely to any major function of the organization. This category shall also include its allocable share of fringe benefit costs, operation and maintenance expense, depreciation and use allowances, membership dues, corporate filing fees and other costs to maintain general business operations. Examples of this category include central offices, such as the director’s office, the office of finance, business services, budget and planning, person...
Classification of Costs. For the purpose of apportioning assessments by the District to the member towns, costs shall be divided into four (4) categories: operating costs, capital costs, debt, and transportation costs. The Committee shall determine the amount necessary to meet the annual operating, capital, debt, and transportation costs and shall allocate such amount among the member towns.
Classification of Costs. For the purpose of apportioning assessments levied by the district against the member towns, costs shall be divided into two categories: capital costs and operating costs. All of the costs described in section VI shall be consistent with the timelines, terms, and requirements in G.L. chapter 71, section 16B, and consistent with DESE regulations B. Capital Costs. Capital costs shall include all expenses in the nature of capital outlay such as the cost of acquiring land, the cost of constructing, reconstructing, or adding to a school building or buildings, the cost of remodeling or making extra-ordinary repairs to a school building or buildings, the cost of constructing sewerage systems and sewerage treatment and disposal facilities or the cost of the purchase or use of such systems with a municipality, and any other item of capital outlay for which a regional school district may be authorized to borrow, including without limitation, the cost of original equipment and furnishings for such buildings or additions, plans, architects’ and consultants’ fees, grading and other costs incidental to placing school buildings and additions, sewerage systems and sewerage treatment and disposal facilities, and any premises related to the foregoing in operating condition. Capital costs shall also include payment of principal of and interest on bonds, notes or other obligations issued by the district to finance capital costs.
Classification of Costs. There is no universal rule for classifying certain costs as either direct or indirect under every accounting system. A cost may be direct with respect to some specific service or function but indirect with respect to the federal or state award or other final cost objective. Therefore, it is essential that each item of cost be treated consistently in like circumstances either as a direct or an indirect cost. Guidelines for determining direct and indirect costs charged to federal or state awards are provided in the sections that follow.
Classification of Costs. The District has the authority to make capital and operating expenditures and to assess the member towns for capital and operating costs. For the purpose of apportioning assessments between the member towns, costs shall be divided into two categories: Capital Costs and Operating Costs. Each assessment, capital and operating, shall be a separate assessment by the District to be voted on by the member towns.
Classification of Costs. The Regional School District has the authority to make capital and operating expenditures and to levy assessments against the member towns for capital and operating costs. For the purpose of apportioning assessments levied by the District against the member towns, costs shall be divided into two categories: Capital Costs and Operating Costs. Each assessment, capital and operating, shall be a separate levy by the District to be voted on by the member towns.
