1 CCR 109-1.30 - STATE AGENCY PROCEDURES

Cost information shall be compiled and preserved on all State public work projects where an appropriation or expenditure of funds may be reasonably expected to exceed $25,000 in any fiscal year.

Whenever a state agency undertakes a public work project by any means or method other than a contract awarded by competitive bid, an accurate record of the cost of the project shall be maintained. All costs incurred shall be allocated to the public work project based on generally accepted cost accounting principles. Project direct costs shall be allocated to the project on a reasonable basis relating directly to the benefit or value added to the project. Project indirect costs shall be allocated from indirect cost pools on a reasonable basis consistent with that of other similar or related projects.

If indirect costs are not recorded on the State Financial System as part of the capitalized cost, a separate record of all project costs, including the indirect costs, shall be maintained. All cost information compiled shall be considered a matter of public record and will be maintained for at least six years after completion of the project.

Notes

1 CCR 109-1.30