OFFICE OF MANAGEMENT AND BUDGET
OMB Circular A-21, "Cost Principles for Educational Institutions."
AGENCY: Office of Management and Budget, Executive Office of the President
ACTION: Final Revision
SUMMARY: The Office of Management and Budget (OMB) is adopting the interim final revision to OMB Circular A-21, "Cost Principles for Educational Institutions," to allow trustees' travel expenses.
DATE: Effective November 27, 1998.
FOR FURTHER INFORMATION CONTACT: Gilbert Tran, Financial Standards and Reporting Branch, Office of Federal Financial Management, Office of Management and Budget, at (202)395-3993. Non-Federal organizations should contact the organization's cognizant Federal agency. The revised Circular is available on the OMB Home Page, as well as from the EOP Publications Office at (202)395-7332.
SUPPLEMENTARY INFORMATION: On June 1, 1998 (63 FR 29786), the Office of Management and Budget (OMB) issued an interim final revision to OMB Circular A-21, "Cost Principles for Educational Institutions," to allow trustees' travel expenses. Only two comments were received in response to the interim final revision; both supported the revision. Accordingly, OMB is adopting in final form, without change, the interim final revision to Circular A-21 which was published at 63 FR 29786 on June 1, 1998.
Jacob J. Lew
OMB hereby revises Section J.50 of OMB Circular A-21 to read as follows:
50. Trustees. Travel and subsistence costs of trustees (or directors) are allowable. The costs are subject to restrictions regarding lodging, subsistence and air travel costs provided in Section 48.