Baylor University applies the standards and guidelines cited in the following Office of Management and Budget circulars to all sponsored program activities.
- OMB Circular A-21: establishes the principles for determining costs applicable to grants, contracts and other agreements with colleges and universities. These principles are to be used as a guide in the pricing of fixed price agreements and apply to direct costs and indirect costs.
- OMB Circular A-110: provides a public declaration of the standards to be used by federal agencies and colleges and universities in the administration of grants and other agreements. This does not include contracts that are administered under procurement laws and regulations.
- OMB Circular A-133: states audit requirement and provides policy guidance to federal agencies and colleges and universities regarding the institutions' financial records, internal control structure and compliance with applicable laws and regulations.
Federal Acqusition Regulations