§ 2-03 Cost Reimbursement Contracts.
RCNY § 2-03
A cost reimbursement contract shall be used only when the ACCO determines that it will be less costly to the City than any other type or that it is otherwise in the best interests of the City to obtain the required goods, services, or construction by using such a contract, and that the proposed vendor's accounting system is adequate to allocate costs in accordance with generally accepted government accounting principles and will permit timely development of all necessary cost data in the format required. In addition, whenever a cost-plus-percentage-of-cost contract is used, it shall specify the maximum allowable expenditure.
