§ 2-1204. Cost reimbursement provisions.

Latest version.

Under this article, cost reimbursement provisions shall obligate the city to reimburse only reasonable costs, allocable to the contractor, either directly or indirectly, that are accounted for in accordance with generally accepted accounting principles. If a contract is being funded in whole or in part by assistance from a federal agency, reimbursement to contractors for incurred costs or cost estimates included in negotiated prices shall be subject to appropriate codified federal cost principles.

(Ord. No. 2009-78(09-O-1876), § 4, 12-15-09)

                    
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