The purpose of this policy is to provide guidance on compliance with federal cost accounting policies to University of Kentucky departments that have grants and contracts. As a recipient of federal grants and contracts, the University must comply with the Office of Management and Budget (OMB) Uniform Guidance Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. Subpart D, Post Federal Award requirements 2CFR 200.306 outlines the specific criteria which must be met for all cost sharing or matching contributions. Additionally, Subpart E – Cost Principles, specifically 2CFR 200.400, provides criteria around the composition of costs which must be met in subparts 200.403 Factors Affecting Allowability of Costs, 200.404 Reasonable Costs and 200.405 Allocable Costs.