Allowable Costs: Related Parties Long-term Debt

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Allowable Costs: Related Parties Long-term Debt Training June 20, 2017 Rhonda Nelson, Capital Finance Analyst DAS Chief Financial Office Costs Paid to Other Agencies Bond proceeds cannot be used to pay other state agencies for costs

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Allowable Costs: Related Parties Long-term Debt Training
June 20, 2017 Rhonda Nelson, Capital Finance Analyst
DAS Chief Financial Office<br>
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Costs Paid to Other Agencies Bond proceeds cannot be used to pay other state agencies for costs incurred as part of the project unless:
Costs represent out-of-pocket payments to unrelated parties, such as employees of the State; and
The payment to the unrelated party is made no later than 5 banking days after the date bond proceeds are allocated to the costs<br>
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Examples of Allowed Costs A portion of an employee’s salary can be paid for with bond proceeds if the costs are allowed to be capitalized to the asset (the “Project”), because such costs are paid to an unrelated party (employee)

Costs paid to DEQ, only if the payment is a reimbursement of a dollar for dollar charge by an outside contractor<br>