Current through Register Vol. XLI, No. 50, December 13, 2024
Section 155-4-3 - Transaction Fee Structure3.1. The transaction fee structure and rate shall be in compliance with the following federal Office of Management and Budget Circulars and provisions of the Code of Federal Regulations: Circular No. A-21, "Cost Principles for Educational Institutions" as amended May 10, 2004; 2CFR Part 225: Circular No. A-87, "Cost Principles for State, Local, and Indian Tribal Governments" as amended August 31, 2005; and Circular A-110, "Uniform Administrative Requirements for Grants and Agreements with Institutions of Higher Education, Hospitals, and other Non-Profit Organizations" as amended September 30, 1999.3.2. The transaction fee structure shall be reviewed each fiscal year by the Auditor and Treasurer to determine whether any changes are required to maintain Federal and state compliance. The transaction fee shall not exceed the lesser of the rate as determined in subsection 3.1 of this rule or $1.00 per transaction. The fee shall continue in effect until December 31, 2017.3.3. The Auditor and Treasurer shall maintain in their respective offices all necessary documentation, including the detailed cost information and financial schedules, that were used in computing the transaction fee rate.