9.8 Matching Funds Policy

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Chapter 9: Grants and Sponsored Projects

9.8 Matching Funds Policy


Related Minnesota State Board Policy: None
Related Minnesota State Board Procedure: None

Purpose:  To ensure that matching funds or cost sharing that are part of grant-funded projects are accurately tracked and documented in order to comply with any requirements established by the relevant Federal agency.

Part 1: Definitions
 

Cost Sharing/Matching: The portion of project costs not paid by Federal funds (unless otherwise authorized by Federal statute). Cost sharing must meet all of the following criteria:

• Are verifiable;
• Are not included as a contribution for any other Federal award;
• Are necessary and reasonable for accomplishment of project or program objectives;
• Are allowable under 2 CFR 200 Subpart E;
• Are not paid by the Federal Government under another Federal award (except where specifically authorized);
• Are provided for in the approved budget (when required by the Federal awarding agency); and
• Conform to other provisions under the Uniform Guidance, as applicable.

Mandatory cost sharing: Cash and/or in-kind support of a project that is required by the federal agency and described in the application guidelines.

Voluntary committed cost sharing: Quantifiable cost sharing specifically pledged on a voluntary basis in the proposal's budget that becomes a binding requirement of Federal award. Any quantified cost sharing offered in a proposal submitted to a Federal agency becomes fiscally and/or programmatically auditable and must be documented and reported to the Federal agency if the proposal is funded.

Voluntary uncommitted cost sharing: Any effort or resources contributed to the sponsored project beyond that which is committed or budgeted in the proposal and subsequent grant agreement. Voluntary uncommitted cost sharing is not included in the proposal budget or narrative.

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Part 2: Responsibilities
 

All types of cost sharing much be approved by the President’s Cabinet prior to an application being submitted.

After award, the Principal Investigator/Project Director is responsible for documenting the types of match contributions and amount/value of certain cash and in-kind matching funds. The Office of Grants & Sponsored Projects is responsible for calculating the value of in-kind staff/faculty time, unrecovered indirect costs and the overall tracking of matching funds.

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Policy History:
Date of Adoption:  4/2/2019

Department Owner:  Grants

Date and Subject of Revisions:

Next Review Date:  4/2/2023

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