TITLE 34 - EDUCATION

SUBTITLE A - OFFICE OF THE SECRETARY, DEPARTMENT OF EDUCATION

PART 74 - ADMINISTRATION OF GRANTS AND AGREEMENTS WITH INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS, AND OTHER NON - PROFIT ORGANIZATIONS

subpart c - POST - AWARD REQUIREMENTS

74.45 - Cost and price analysis.

Some form of cost or price analysis must be made and documented in the procurement files in connection with every procurement action. Price analysis may be accomplished in various ways, including the comparison of price quotations submitted, market prices and similar indicia, together with discounts. Cost analysis is the review and evaluation of each element of cost to determine reasonableness, allocability, and allowability. (Approved by the Office of Management and Budget under control number 1880 0513) (Authority: 20 U.S.C. 1221e3, 3474; OMB Circular A110) [59 FR 34724, July 6, 1994, as amended at 60 FR 6660, Feb. 3, 1995]