costs which benefit two or more final cost objectives or at least one intermediate cost objective which cannot be identified to a specific project, program, or activity (name changed to Facilities & Administrative Costs in the May 1996 revision of A-21)
refers to monetary or cash expenditures paid by an organization. The organization transfers real funds in return for goods or services, however, "indirect" indicates that these expenditures are not exclusively expended on the project for which MAP funding is being requested. "Indirect" costs are often referred to as ongoing or operating costs of an organization.
Indirect costs also known as F&A costs are those that are incurred for common or joint objectives and therefore cannot be identified readily and specifically with a particular sponsored project, an instructional activity, or any other institutional activity. Obligations- The amounts of orders placed, contracts and subgrants awarded, goods and services received, and similar transactions during a given period that will require payment by the grantee during the same or a future period. OMB- Means the United States Office of Management and Budget.