“If it isn’t documented, it didn’t happen.” So say many independent auditors who examine federal grant transactions. And they’re known to question costs incurred by recipients and subrecipients as a result.
Federal grant audit policies make clear that costs can be questioned for a variety of reasons. But far and away the most common one is when the auditors conclude that, at the time of the audit, the charges were not supported by sufficient adequate documentation. However, the problem is that adequacy, like beauty, is in the eye of the beholder. That leaves the auditors with considerable latitude — particularly since there are very few specifics in federal grant administrative requirements and cost principles about what that documentation should look like.
Recipients and subrecipients are left to their own devices to design internal policies and documentation requirements for grant transactions and then to enforce them. And, if costs are actually questioned and recommended for disallowance, the process of trying to reconstruct what actually occurred can be lengthy and may not necessarily support a positive outcome.
This webinar will review what the federal rules, now contained in OMB’s so-called “Super Circular,” actually require about documentation. Then, relying on best practices that provide reasonable assurance about federal grant charges, Bob Lloyd, principal of Federal Fund Management Advisor™, will provide you with the means to analyze and evaluate your organization’s approach toward grant documentation.
You’ll get help documenting charges like:
- Personnel salaries and wages — including time and effort reporting
- Fringe benefits
- Travel
- Equipment
- Supplies
- Professional services
- Space occupancy
- Training, conferences and meetings
- Indirect costs
- … and more
Join us for this practical and timely session. Learn how to document your charges and how long to maintain these records.
Who Should Attend?
- Grant and contract managers
- Sponsored projects administrators
- Program managers
- Finance directors
- Accounting staff
- Principal investigators
- Internal auditors
- External auditors
Hand-out Materials:
Attendees will receive presentation slides as well as access to background materials.
Allowable Charges
The costs of webinars sponsored by Federal Fund Management Advisor™ are allowable charges to your federal grants and subgrants. The cost principles issued by OMB under its uniform guidance (and applicable to all types of awardees) state, “The cost of training and education for employee development is allowable” (2 CFR 200.472).
Attend this Live Webinar and Earn up to 1.5 CPE Credits