Common use of Selected Items of Cost Clause in Contracts

Selected Items of Cost. The Subrecipient agrees to comply with the requirements of OMB 2 CFR Part 225, Selected Items of Cost. Physical inventories must be taken at least once every two years to ensure that assets received through this Agreement exist and are in use. Governmental units will manage and maintain equipment in accordance with State laws and procedures.

Selected Items of Cost. The Subrecipient agrees to comply with the requirements of OMB 2 CFR Part 225, Selected Items of Cost. Physical inventories must be taken at least once every two years to ensure that assets received through this Agreement exist exist, and are in use. Governmental units will manage and maintain equipment in accordance with State laws and procedures.

Selected Items of Cost. The Subrecipient agrees to comply with the requirements of OMB 2 CFR C.F.R. Part 225, Selected Items of Cost. Physical inventories must be taken at least once every two (2) years to ensure that assets received through this Agreement exist and are in use. Governmental units will manage and maintain equipment in accordance with State laws and procedures.