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Page 10 of 52 7.2 Cost Sharing Requirement At least 50 % non -Federal cost -share is required for costs incurred under this Agreement. If pre - award costs are authorized, reimbursement of these costs is limited to federal cost share percentage identified in this agreement. Based on the budget estimate reflected in Section 7.1, the estimated Federal share of allowable costs is 84% and the Recipient's estimated non -Federal cost share is 16%. The Federal share of allowable costs shall not be expended in advance of the Recipient's non -Federal share. It is expected that expenditure of Federal and non -Federal funds based upon the estimated cost share percentages shall occur concurrently. At the end of the period of performance, if the final costs are lower than the original estimate and the XX% non -Federal cost share is met, the final payment and financial report can reflect a lower Recipient cost share than the original budget estimate. If a bona fide need arises which requires the expenditure of Federal funds in advance of the Recipient share, then the Recipient must request written approval from the Grants Officer prior to the expenditure. Recipient's may expend their agreed upon share of costs in advance of the expenditure of Federal funds without prior written approval. 7.3 Pre -Award Incurrence of Costs The Recipient is not authorized to incur costs prior to the award of this Agreement. Costs incurred prior to the award of this agreement are not allowable. 7.4 Allowable Costs Costs incurred for the performance of this Agreement must be allowable, allocable to the project, and reasonable. The following regulations, codified within the Code of Federal Regulations (CFR), governs the allowability of costs for Federal financial assistance: 2 CFR 200 Subpart E, "Cost Principles" Expenditures for the performance of this Agreement must conform to the requirements within this CFR. The Recipient must maintain sufficient documentation to support these expenditures. Questions on the allowability of costs should be directed to the GO responsible for this Agreement. The Recipient shall not incur costs or obligate funds for any purpose pertaining to operation of the program or activities beyond the expiration date stated in the Agreement. The only costs which are authorized for a period of up to 90 days following the project performance period are those strictly associated with closeout activities for preparation of the final reports. 7.5 Revision of Budget and Program Plans Agreement No. R18AP00081 Agreement Template 2 0 D -1 4 (03/2019)