OMB Circular: Grants

Ryan Byrd and Mia Bautista presented on new requirements and new agency guidance for the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, which streamlines into one document the guidance governing federal grants and cooperative agreements.

Session 1 (March 16)

• Understand key concepts in the OmniCircular
• Understand relevant compliance requirements and changes from prior guidance
• Understand impact of the circular on pre-award activities from risk assessments and conflicts of interest to certifications and disclosures

Session 2 (March 23)

• Understand impact of the circular on post-award activities such as financial management standards, and revisions of budget and scope
• Review standards of real property, equipment, supplies, and intangible property
• Understand key changes in procurement standards and definitions
• Understand requirements for subrecipient administration, monitoring, and FFATA reporting

Session 3 (April 6)

• Obtain understanding of selected cost principles and indirect cost rates, and changes to existing cost principle regulations
• Understand record retention and closeout requirements
• Understand key changes to single audit requirements
• Review action items for the organization and key areas of priority for compliance

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