Allowable Costs: Related Parties Long-term Debt
Description: 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
Related Topics
Download Presentation
"Allowable Costs: Related Parties Long-term Debt" is the property of its rightful owner. Permission is granted to download and print the materials on this website for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Presentation Transcript
slide1. Allowable Costs: Related Parties Long-term Debt Training
June 20, 2017 Rhonda Nelson, Capital Finance Analyst
DAS Chief Financial Office<br>
slide2. 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>
slide3. 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>
slide4. Examples of Costs Not Allowed DOJ fee, if the costs do not get passed through to a specific employee’s salary
BOLI fee, if the costs do not represent a dollar for dollar reimbursement of costs billed to DEQ by an outside contractor
DAS assessment, if it does not represent a dollar for dollar reimbursement of costs billed to DAS by an outside contractor<br>
slide5. XI-Q Bond Agency Guide & Training An agency guide to the XI-Q bond program will be coming soon
Training sessions on XI-Q bond program to follow<br>
slide6. Questions?<br>
June 20, 2017 Rhonda Nelson, Capital Finance Analyst
DAS Chief Financial Office<br>
slide2. 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>
slide3. 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>
slide4. Examples of Costs Not Allowed DOJ fee, if the costs do not get passed through to a specific employee’s salary
BOLI fee, if the costs do not represent a dollar for dollar reimbursement of costs billed to DEQ by an outside contractor
DAS assessment, if it does not represent a dollar for dollar reimbursement of costs billed to DAS by an outside contractor<br>
slide5. XI-Q Bond Agency Guide & Training An agency guide to the XI-Q bond program will be coming soon
Training sessions on XI-Q bond program to follow<br>
slide6. Questions?<br>