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and propriety of the charges, as referenced in 49 C.F.R. 19, the Office of Management and Budget Circulars A -122, Costs Principles for Nonprofit Organizations" and A -110 "Uniform Administrative Requirements for Grants and Agreements with institutions of Higher Education, Hospitals and Other Nonprofit Organizations. d. Allowable Costs Expenditures made by the Contractor shall be reimbursed as allowable costs to the extent they meet all of the requirements set forth below. They must be: (1) Consistent with the Project Description, plans, specifications, and Project Budget and all other provisions of this Agreement; (2) Necessary in order to accomplish the Project; (3) Reasonable in amount for the goods or services purchased; (4) Actual net costs to the Contractor, i.e., the price paid minus any refunds (e.g., refundable sales and use taxes pursuant to N.C.G.S. 105- 164.14), rebates, or other items of value received by the Contractor that have the effect of reducing the cost actually incurred; (5) Incurred (and be for work performed) within the period of performance and period covered of this Agreement unless specific authorization from the Department to the contrary is received; (6) Satisfactorily documented; (7) Treated uniformly and consistently under accounting principles and procedures approved or prescribed by the Department; and (8) In compliance with U.S. DOT regulations pertaining to allowable costs at 49 C.F.R. § 18.22 or 490 C.F.R. §19.27, which regulations specify the applicability of U.S. Office of State Budget and Management (U.S. OMB) circulars and Federal Acquisition Regulation (FAR) provisions as follows: (a1) U.S. OMB Guidance for Grants and Agreements, "Cost Principles for State, Local, and Indian Tribal Governments (OMB Circular A-87)", 2 C.F.R. Part 225, applies to Project costs incurred by a Contractor that is a State, local, or Indian Tribal government. (b1) U.S. OMB Guidance for Grants and Agreements, "Cost Principles for Educational Institutions (OMB Circular A -21), "2 C.F.R. Part 220, applies to Project costs incurred by a Contractor that is an institution of higher education. (c1) U.S. OMB Guidance for Grants and Agreements "Cost Principles for Public Body (OMB Circular A- 102)," C.F.R. Part 230, applies to Project costs incurred by a Contractor that is a public body. (di) FAR, at 48 C.F.R., Subpart 31.2, "Contracts with Commercial Organizations applies to Project costs incurred by a Contractor that is a for - profit organization. Section 10. Reporting Requirements The Federal Transit Administration (FTA) requires recipients of JARC funds to report on the performance of services funded under these programs. FTA.has established overall program measures for JARC programs and instituted the reporting requirement as part of its JARC Circular (9050.1) which went into effect on May 1, 2007. a. Reports The Contractor shall submit to the Department a progress report and other such documentation that is requested by Department on a quarterly basis and these reports shall be due to the Department on or before October 15, January 15, April 15 and July 15. Such reporting and documentation may include, but not be limited to: operating statistics, Updated 3101/11 Page 11 of 41 Attachment number 2 F -8 Page 145