2010 Utah Code
Title 63G - General Government
Chapter 06 - Utah Procurement Code
63G-6-415 - Rules and regulations to determine allowable incurred costs -- Required information -- Auditing of books.

63G-6-415. Rules and regulations to determine allowable incurred costs -- Required information -- Auditing of books.
(1) Rules and regulations may be promulgated to set forth cost principles to be used to determine the allowability of incurred costs for the purpose of reimbursing costs under contract provisions which provide for the reimbursement of costs; provided that if a written determination is approved at a level above the procurement officer, the cost principles may be modified by contract.
(2) A person shall, except as provided in Subsection (4), submit cost or pricing data and shall certify that, to the best of the person's knowledge and belief, the cost or pricing data submitted were accurate, complete, and current as of a mutually determined specified date prior to the date of:
(a) the pricing of any contract awarded by competitive sealed proposals or pursuant to the sole source procurement authority, where the total contract price is expected to exceed an amount established by rules and regulations; or
(b) the pricing of any change order which is expected to exceed an amount established by rules and regulations.
(3) Any contract or change order under which a certificate is required shall contain a provision that the price to the state, including profit or fee, shall be adjusted to exclude any significant sums by which the state finds that the price was increased because the contractor-furnished cost or pricing data were inaccurate, incomplete, or not current as of the date agreed upon between the parties.
(4) The requirements of Subsections (2) and (3) need not be applied to contracts:
(a) where the contract price is based on adequate price competition;
(b) where the contract price is based on established catalogue prices or market prices;
(c) where contract prices are set by law or regulation; or
(d) where it is determined in writing in accordance with rules and regulations that the requirements of this section may be waived, and the reasons for such waiver are stated in writing.
(5) The state may, at reasonable times and places, audit the books and records of any person who has submitted cost or pricing data pursuant to this section or any contractor or subcontractor under any negotiated contract or subcontract other than a firm fixed-price contract to the extent that the books and records relate to the cost or pricing data, contract, or subcontract. The books and records shall be maintained by the contractor for three years following the end of the fiscal year in which final payment is made under the prime contract and by the subcontractor for three years following the end of the fiscal year in which final payment is made under the subcontract, unless a shorter period is otherwise authorized in writing.

Renumbered and Amended by Chapter 382, 2008 General Session