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Happy (Federal Grant Audit) Trails

Webinar • Thursday, March 24, 2022 • 2:00-3:30 p.m. ET

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$249.00 Happy (Federal Grant Audit) Trails (03.24.22) (On-Demand Recording)
Webinar Details

Prerequisites: Some knowledge of federal grant management and audit requirements is helpful

Recommended Field of Study: Specialized Knowledge and Applications

Program Knowledge Level: Basic

Advanced Preparation: None

When seeing someone off on a trip, a friend might wave and call out, “Happy trails.” The phrase has been applied to lots of situations that have nothing to do with travel. And, applying it to a webinar about federal grant administration isn’t a stretch. That’s because failing to create a clear audit trail related to grant expenditures can lead to plenty of unhappiness.

The challenge is that the federal government’s requirements for grant source documentation are short on detail. The Office of Management and Budget said that documentation has to be maintained, but it doesn’t tell you much about what it’s supposed to look like or how it’s supposed to hang together. Awardees, then, must craft the kind of documentation that will convince oversight authorities (like project monitors and independent auditors) that recipient and subrecipient organizations are in compliance with laws, regulations, and award terms and conditions.

Drawing from the administrative requirements and cost principles in OMB’s uniform guidance and the single audit instructions in OMB’s Compliance Supplement, this session will identify how to prepare and keep:

  • Documentation for personnel expenses
  • Internal policy support for expenditure actions
  • Justifications for allowability of costs
  • Evidence of prior approval when required
  • The “significant history” of procurements
  • Evidence of custody and control of grant-acquired property
  • Back-up for third party in-kind contributions to matching or cost sharing
  • Support for safeguarding and use of program income
  • Due diligence steps for subawarding
  • Possible alternative and substitute documentation

Grant expenditure documentation is a key to proper performance and administration of your federal grant programs. Join presenter Bob Lloyd, principal of Federal Fund management Advisor,™ to ensure you create “happy” audit trails by collecting and organizing the necessary support for your expenditures.

WHO SHOULD ATTEND:

  • Grant managers
  • Sponsored projects administrators
  • Grant project directors
  • Accounting staff
  • Purchasing agents
  • Property managers
  • Executives
  • Finance directors
  • 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

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  • Know the nuances of requirements for subrecipient assessment and monitoring
  • Understand contract clauses in agreements for procurement under grants
  • Apply the general tests of allowability
  • Understand special issues confronting pass-through entities contracting with foreign organizations
  • Know which clauses flow down when crafting a subaward
  • Understand what is meant by a 10% de minimis indirect cost rate
  • Audit the vulnerabilities in your grants management operation
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