TITLE 34 - EDUCATION

SUBTITLE A - OFFICE OF THE SECRETARY, DEPARTMENT OF EDUCATION

PART 76 - STATE - ADMINISTERED PROGRAMS

subpart f - WHAT CONDITIONS MUST BE MET BY THE STATE AND ITS SUBGRANTEES?

76.569 - Using the restricted indirect cost rate.

  (a) Under the programs referenced in 76.563, the maximum amount of indirect costs under a grant is determined by the following formula: Indirect costs=(Restricted indirect cost rate)(Total direct costs of the grant minus capital outlays, subgrants, and other distorting or unallowable items as specified in the grantee's indirect cost rate agreement) (b) If a grantee uses a restricted indirect cost rate, the general management and fixed costs covered by that rate must be excluded by the grantee from the direct costs it charges to the grant.

(Authority: 20 U.S.C. 1221e3(a)(1), 2831(a), 2974(b), and 3474) [59 FR 59584, Nov. 17, 1994]