TITLE 2 - GRANTS AND AGREEMENTS

SUBTITLE A - OFFICE OF MANAGEMENT AND BUDGET GUIDANCE FOR GRANTS AND AGREEMENTS

CHAPTER II - OFFICE OF MANAGEMENT AND BUDGET CIRCULARS AND GUIDANCE

PART 230 - COST PRINCIPLES FOR NON - PROFIT ORGANIZATIONS (OMB CIRCULAR A - 122)

230.40 - Effective date of changes.

The provisions of this part are effective August 31, 2005.

Implementation shall be phased in by incorporating the provisions into new awards made after the start of the organization's next fiscal year.

For existing awards, the new principles may be applied if an organization and the cognizant Federal agency agree. Earlier implementation, or a delay in implementation of individual provisions, is also permitted by mutual agreement between an organization and the cognizant Federal agency.