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has been approved by SRA's Board of Directors. In January of the grant year, the wage & salaries <br />budget is updated. If the variance is greater than 2%, then the cost allocation percentages are <br />updated. <br />General Approach <br />The general approach of Senior Resource Association in allocating costs to particular programs <br />and grants is as follows: <br />A. All allowable direct costs are charged directly to the program and grant. <br />B. Allowable direct costs that can be identified to more than one program are <br />prorated individually as direct costs using a base which is most appropriate to the <br />particular cost being prorated. <br />C. All other allowable general and administrative costs (costs that benefit all <br />programs and cannot be identified to a specific program) are allocated to <br />programs and grants using a base that results in an equitable distribution. <br />ALLOCATION OF COSTS <br />The following information summarizes the procedure that is used by Senior Resource <br />Association: <br />A. Direct expenses are allocated to each program/grant that incurred the expenses. <br />B. Indirect expenses that benefit more than one program will be allocated to those <br />programs based on the ratio of each program's salaries to the total of such salaries <br />(see Schedule A). <br />C. Indirect expenses that benefit all programs will be allocated based on the ratio of <br />each program's salaries to total salaries (see Schedule A). Indirect cost may <br />include the cost of operating and maintaining administrative facilities, general <br />administration and general expenses, such as the salaries and expenses of <br />executive officers, personnel administration and accounting. <br />D. Unallowable Costs — Costs that are unallowable in accordance with OMB Circular <br />A-122, including alcoholic beverages, bad debts, advertising (other than help - <br />wanted ads), contributions, entertainment, fines and penalties, and fundraising, <br />are not allocated to Federal or State grants. <br />694 14" Street • Vero Beach, FL 32960 • PFI: 772.569.0760 • FX: 772.778.7272 • SeniorResourceAssociation.org <br />Providing activities, education and services 108 <br />