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(5) Services or property financed by income earned by contractors. Contractors <br />under a grant may earn income from the activities carried out under the <br />contract in addition to the amounts earned from the party awarding the <br />contract. No costs of services or property supported by this income may <br />count toward satisfying a cost sharing or matching requirement unless other <br />provisions of the grant agreement expressly permit this kind of income to be <br />used to meet the requirement. <br />(6) Records. Costs and third party in kind contributions counting towards <br />satisfying a cost sharing or matching requirement must be verifiable from the <br />records of grantees and subgrantees or cost- type contractors. These <br />records must show how the value placed on third party in-kind contributions <br />was derived. To the extent feasible, volunteer services will be supported by <br />the same methods that the organization uses to support the allocability of <br />regular personnel costs. <br />(7) Special standards for third party in kind contributions. <br />(i) Third party in kind contributions count towards satisfying a cost sharing or <br />matching requirement only where, if the party receiving the contributions <br />were to pay for them, the payments would be allowable costs. <br />(ii) Some third party in-kind contributions are goods and services that if the <br />grantee, subgrantee, or contractor receiving the contribution had to pay for <br />them, the payments would have been an indirect costs. Costs sharing or <br />matching credit for such contributions shall be given only if the grantee, <br />subgrantee, or contractor has established, along with its regular indirect <br />cost rate, a special rate for allocating to individual projects or programs the <br />value of the contributions. <br />(iii) A third party in-kind contribution to a fixed-price contract may count <br />towards satisfying a cost sharing or matching requirement only if it results <br />in: <br />(A) An increase in the services or property provided under the contract <br />(without additional cost to the grantee or subgrantee); or <br />(B) A cost savings to the grantee or subgrantee. <br />(iv) The values placed on third party in kind contributions for cost sharing or <br />matching purposes will conform to the rules in the succeeding sections of <br />this part. If a third party in-kind contribution is a type not treated in those <br />sections, the value placed upon it shall be fair and reasonable. <br />(c) Valuation of donated services: <br />(1) Volunteer services. Unpaid services provided to a grantee or subgrantee by <br />individuals will be valued at rates consistent with those ordinarily paid for <br />similar work in the grantee's or subgrantee's organization. If the grantee or <br />subgrantee does not have employees performing similar work, the rates will <br />be consistent with those ordinarily paid by other employers for similar work in <br />the same labor market. In either case, a reasonable amount for fringe <br />benefits may be included in the valuation. <br />56 <br />55A-62