Voluntary Committed Cost Sharing Law and Legal Definition
Voluntary committed cost sharing means cost sharing specifically promised in the grant proposal, referenced in the award, and required to be provided in accordance with award terms and conditions. It means the sharing of project costs by an institution over and above a sponsor's cost-sharing requirements. Voluntary committed cost-sharing when accepted by the sponsor becomes mandatory cost-sharing. Voluntary committed cost sharing must be properly documented for cost accounting purposes. However, inclusion of voluntary committed cost sharing is prohibited in all solicited and unsolicited proposals.
Legal Definition list
Related Legal Terms
- Above the Line Costs (Entertainment Law)
- Absorption Costing
- Accelerated Cost Recovery System
- Acquisition Cost of an Item of Purchased Equipment
- Acquisition Cost of Equipment [Education]
- Activity-Based Costing
- Actuarial Cost Assumptions
- Actuarial Cost Method
- Administrative Cost of Issuing a Loan Guarantee
- Administrative Settlement Costs
