Disclosure Statement (DS-2)

In the early 1970's, the Cost Accounting Standards Board (CASB) was created by Congress to address allegations of inconsistent costing practices by recipients of federal awards, e.g. Defense Department contractors, and to develop costing standards. In 1996 OMB formally incorporated CASB cost accounting standards into OMB A-21, which requires universities to confirm their compliance with the standards and to complete a formal Disclosure Statement (DS-2) if the university receives over $25 million in federal funding. The DS-2 must be on file with the U.S. Department of Health and Human Services in Washington D.C.