The massive government response to the coronavirus pandemic has meant that the country is awash in property that has been purchased with federal grant funds. The abundance of supplies, equipment, leased assets and even intellectual property has created significant internal control challenges for recipients and subrecipients of federal awards and fertile territory for auditors.

With all the disruption caused by COVID 19, federally funded organizations may inadvertently slack off on important compliance policies on ownership, use, safeguarding and disposition of these valuable assets. Since the rules on this property last much longer than the grant performance period itself, your accountability will stretch out, too.

It makes sense to understand the compliance vulnerabilities and best practices that surround the “stuff” you’ve been buying. In this webinar, you’ll learn to:

• Differentiate between “government-furnished” and “grant-acquired” property, and know why that’s important
• Link purchasing actions with best property management practices
• Appreciate the differences between “supplies” versus “equipment”
• Define various types of grant-acquired assets and management prerogatives
• Sort through confusing policies on copyrights, patents and other intellectual property
• Determine cost allowability for computers and other electronic devices
• Address issues of title and management of property in the hands of subrecipients
• Choose acceptable accounting methods for withdrawal of assets already in stock
• Create necessary property records with required data elements
• Craft solid policies on authorized use, maintenance and safeguarding
• Charge allowances for letting other organizations use grant-funded property
• Decide among disposition options at the conclusion of a grant project or program

Enroll in this fast-paced and thorough session to help you demonstrate accountability for your grant-acquired property.

WHO SHOULD ATTEND:

• Finance directors
• Purchasing agents
• Inventory handlers
• Facility managers
• Accounting staff
• Grant and contract specialists
• Sponsored projects administrators
• 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