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National Not for Profit Financial Executive Forum 2013


Federal Grant Reform


Nov 6, 2013 1:15pm ‐ Nov 6, 2013 2:30pm

Description

On February 1, 2013, the OMB issued a proposal that, if fully implemented, would significantly change both the form and the substance of federal policy on how federal grants and cooperative agreements are administered and audited. Once a 90-day comment period has ended and those comments are digested, OMB plans to issue a final uniform document that would represent the most significant change in federal fund management
policy in decades. The proposed guidance could:
• Consolidate policies from eight current OMB circulars into a master document that the federal agencies will adopt in codified regulations
• Fold together familiar but often confusing and conflicting administrative requirements, cost principles and audit policies affecting the full range of recipients and subrecipients — state and local governments, colleges and universities, hospitals and other nonprofit organizations

This session will explore the proposed changes and how it might impact your organization.

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