sign it and use the NEW lower rate.  Rebudget with approval from the prime
contractor.  As a subcontractor, you have no privity of contract with NSF.
They'll politely tell you to not bother them.

Greg Schmidt
-----Original Message-----
From: Vincelli, Diana <xxxxxx@RICHMOND.EDU>
To: xxxxxx@hrinet.org <xxxxxx@hrinet.org>
Date: Tuesday, November 23, 1999 4:35 PM
Subject: F&A rate

>To the great Collective Expertise:
>Suppose we are the subcontractor for an NSF award.  The application was led
>by another institution, and our co-PI supplied a budget and rationale for
>his portion of the project.  The award has been made, and the subcontract
>has the original budget attached, using an indirect cost rate/F&A rate that
>has since expired.  Our new rate is lower.  What do we need to do with the
>subcontract?  Sign it even tho the budget has the old F&A rate? (our
Finance
>office is hesitant)  Revise the budget?  Move the excess (amounts to about
>$400/year for 4 years) to another line?  Do I need to make a call to NSF or
>is this the business of the prime awardee?
>thanks,
>Diana
>
>Diana Thompson Vincelli
>Associate Director
>Foundation and Government Grants
>G-14 Maryland Hall
>University of Richmond, VA  23173
>804/289-8005, fax 804/287-6491
>xxxxxx@richmond.edu
>www.richmond.edu/~grants
>
>
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