24 CFR 84.81 - Definition.

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There are 2 Updates appearing in the Federal Register for 24 CFR Part 84. View below or at eCFR (GPOAccess)
§ 84.81 Definition.
(a) A lump sum award is an award for a predetermined amount, as set forth in the grant agreement, which amount does not vary with the amount of the recipient's actual incurred costs. Under this type of award, HUD does not pay the recipient for its incurred costs but rather for completing certain defined events in the work or achievement of some other well-defined milestone. Some of the ways in which the grant amount may be paid are, but are not limited to:
(1) In several partial payments, the amount of each agreed upon in advance, and the “milestone” or event triggering the payment also agreed upon in advance, and set forth in the grant;
(2) On a unit price basis, for a defined unit or units (such as a housing counseling unit), at a defined price or prices, agreed to in advance of performance of the grant and set forth in the grant; or,
(3) In one payment at grant completion.
(b) The key distinction between a lump sum and a cost reimbursement grant is the lack of a direct relationship between the costs incurred by the recipient and the amount paid by HUD in the lump sum arrangement.

Title 24 published on 2014-04-01.

The following are only the Rules published in the Federal Register after the published date of Title 24.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2015-04-07; vol. 80 # 66 - Tuesday, April 7, 2015
    1. 80 FR 18519 - Federal Awarding Agency Regulatory Implementation of Office of Management and Budget's Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards; Correction of RIN Number
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of the General Counsel
      Final rule; correction.
      Effective April 7, 2015.
      2 CFR Part 2400

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United States Code
U.S. Code: Title 42 - THE PUBLIC HEALTH AND WELFARE

Title 24 published on 2014-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR Part 84 after this date.

  • 2015-04-07; vol. 80 # 66 - Tuesday, April 7, 2015
    1. 80 FR 18519 - Federal Awarding Agency Regulatory Implementation of Office of Management and Budget's Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards; Correction of RIN Number
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of the General Counsel
      Final rule; correction.
      Effective April 7, 2015.
      2 CFR Part 2400