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EXHIBIT 3 <br /> 45 HB Fiscal Polices Et Procedures <br /> B. Administering Federal funds in a manner consistent with underlying agreements, <br /> program objectives, and the terms and conditions of the Federal award. <br /> All costs must meet the following general criteria to be allowable under Federal awards as follows <br /> (except where otherwise authorized by statute): <br /> A. Be necessary and reasonable for the performance of the Federal award and be <br /> allocable thereto under these principles. <br /> B. Conform to any limitations or exclusions set forth in these principles or in the <br /> Federal award as to types or amount of cost items. <br /> C. Be consistent with policies and procedures that apply uniformly to both federally <br /> financed and other activities of HB. <br /> D. Be accorded consistent treatment. A cost may not be assigned to a Federal award as <br /> a direct cost if any other cost incurred for the same purpose in like circumstances <br /> has been allocated to the organization as an indirect cost. <br /> E. Be determined in accordance with generally accepted accounting principles (GAAP). <br /> F. Not be included as a cost or used to meet cost sharing or matching requirements of <br /> any other federally-financed program in either the current or a prior period. <br /> G. Be adequately documented: <br /> i. All eligible costs supported by source documents (such as invoices, check <br /> requests, or similar document) and approved by designated, authorized <br /> approvers. <br /> ii. All direct and indirect costs must comply with restrictions, limitations, and <br /> conditions of the applicable available grants. <br /> iii. Costs need to comply with other factors (2 CFR 200.403). <br /> H. Cost must be incurred during the approved budget period. The Federal awarding <br /> agency is authorized, at its discretion, to waive prior written approvals to carry <br /> forward unobligated balances to subsequent budget periods. <br /> I. Reasonable and necessary costs that are required to operate and manage programs <br /> funded by grants. <br /> 3. Procurement: <br /> This section addresses the policies and procedures when considering procurement under 2 CFR <br /> 200.318. <br /> HB is responsible for properly documenting procurement procedures. See Sections 3 and 7 of this <br /> manual for details. <br /> HB will also follow the procurement guidelines set forth by 2 CFR 200.320 when dealing with <br /> informal procurement methods, formal procurement methods, noncompetitive procurement <br /> methods. <br /> 3. Competition: <br /> This section addresses the policies and procedures when considering procurement under 2 CFR <br /> 200.319. <br /> Last updated September 2022 <br />