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Indirect Cost Recovery: OMB’S Latest Roadmap

Webinar • Tuesday, September 29, 2020 • 2:00-3:30 p.m. ET

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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

Federal policies on indirect cost recovery by grant recipients have never been all that clear. And when recovery involves subrecipients, things get even murkier. A few years ago, the Office of Management and Budget took on that challenge and attempted to clarify and streamline the indirect cost policies in its Uniform Guidance (2 CFR 200).

It’s fair to say that OMB made some welcome changes when it unequivocally told pass-through entities to fully recognize federally negotiated indirect cost rates. It introduced the “de minimis” indirect cost rate and presented bare-bones policies on pass-through entity negotiation of rates — but these actions triggered more questions than answers.

Meanwhile, the coronavirus pandemic disrupted lots of indirect cost-related actions including submission of new rate proposals. Then, on August 13, OMB released revisions to 2 CFR 200 that allow more organizations to employ the de minimis rate — if they want to! And they open the door for pass-through entities to accept rates negotiated by other pass-through entities.

With so many changes, it makes sense to examine OMB’s roadmap for an altered indirect cost recovery landscape. Pulling together myriad current developments that affect indirect cost recovery by organizations like yours, we’ll cover:

  • Authorized extensions of existing indirect cost rates and rate proposal submissions
  • Who’s now eligible to use the de minimis rate
  • Documentation expectations when the de minimis rate is used
  • Pass-through entity responsibilities and options for dealing with subrecipient indirect costs
  • Practical tips for subrecipients submitting rate proposals and pass-through entities reviewing them
  • Authoritative federal guidance documents for preparation of rate proposals
  • Plans for internet posting of federally negotiated rates
  • Interpretation issues affecting costs commonly included in indirect cost pools
  • Current responsibilities for testing indirect cost charges during single audits

Join Bob Lloyd — principal of Federal Fund Management Advisor™ and a respected authority on federal policies affecting the award, administration and audit of federal grants, contracts and subawards — for this timely and thorough update.

WHO SHOULD ATTEND:

  • Grant and contract managers
  • Executives
  • Finance directors
  • Accounting staff
  • Sponsored projects administrators
  • Program managers
  • Subgrant monitors
  • 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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