Modified Total Direct Costs definition

Modified Total Direct Costs. (MTDC) shall mean all direct salaries and wages, applicable fringe benefits, materials and supplies, services, travel, and up to the first $25,000 of each subaward (regardless of the period of performance of the subawards under the award). MTDC excludes equipment, capital expenditures, charges for patient care, rental costs, tuition remission, scholarships and fellowships, participant support costs and the portion of each subaward in excess of $25,000.
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Modified Total Direct Costs means all direct salaries and wages, applicable fringe benefits, materials and supplies, services, travel, and up to the first $25,000 of each subaward (regardless of the period of performance of the subawards under the award). MTDC excludes equipment, capital expenditures, and rental costs. Any amendments to this Agreement’s Budget must first be determined by the Local Government as consistent with its CDBG contract with Commerce and then approved in writing by the Local Government and the Subrecipient.
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Modified Total Direct Costs means all direct salaries and wages, applicable fringe benefits, materials and supplies, services, travel, and up to the first $25,000 of each subaward (regardless of the period of performance of the subawards under the award). MTDC excludes equipment, capital expenditures, and rental costs.Any amendments to this Agreement’s Budget must first be determined by the Local Government as consistent with its CDBG contract and then approved in writing by the Local Government and the Subrecipient.V. PAYMENTThe Local Government shall, in accordance with the payment procedures outlined in the CDBG Management Handbook, Financial Management Section, pay for all allowable expenses agreed upon by the parties to complete the Scope of Service.Payment under this Agreement will be based on billings, supported by appropriate documentation of costs actually incurred and work that is inspected and approved. It is expressly understood and agreed upon that the total amount to be paid by the Local Government under this agreement shall not exceed $344,004.VI. PERFORMANCE MONITORINGThe Local Government will monitor the performance of the Subrecipient by tracking project progress, reviewing payment requests for applicable costs, managing the timely pass-through of any CDBG funds, overseeing compliance with CDBG requirements, and ensuring recordkeeping and audit requirements are met. Substandard performance as determined by the Local Government will constitute noncompliance with this Agreement.If action to correct such substandard performance is not taken by the Subrecipient within a reasonable period of time after being notified by the Local Government, contract suspension or termination procedures will be initiated.VII. PROJECT/PROPERTY REQUIREMENTSThe requirements for real property improved in whole or in part with CDBG funds in excess of$25,000 are governed by 24 CFR 570.505. These requirements shall apply from the date CDBG funds are first spent for the property until five years after closeout of the grant.The Subrecipient agrees to continue the operation of the approved programs at this location, meeting the required National Objective, for a minimum of five years after closeout of the grant. The Subrecipient also agrees, to maintain the improvements made to the building for the same term. If the Subrecipient sells or transfers title to the property in any way during the five year term, such action could require the Subrecipient to reimburse the Local Government for the Project...
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Examples of Modified Total Direct Costs in a sentence

  • The maximum reimbursement amount allowable for indirect costs is ten percent (10%) of the Subrecipient’s Modified Total Direct Costs (MTDC), excluding in-kind contributions and nonexpendable equipment.

Related to Modified Total Direct Costs

  • Direct Costs means the sum of the following:

  • Eligible Project Costs means such portion of the Project costs disbursed and loaned from the OPWC to the Recipient for the sole and express purpose of acquiring, constructing, reconstructing, expanding, improving, engineering and equipping the Project, other direct expenses, and related financing costs thereto.

  • Project Costs means all allowable costs, as set forth in the applicable Federal cost principles, incurred by a recipient and the value of the contribu- tions made by third parties in accom- plishing the objectives of the award during the project period.

  • Routine Patient Costs means all health care services that are otherwise covered under the Group Contract for the treatment of cancer or other Life-threatening Condition that is typically covered for a patient who is not enrolled in an Approved Clinical Trial.

  • Budget means a resource, expressed in financial terms, proposed by the Board for the purpose of carrying out, for a specific period, any or all of the functions of the Trust.