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Quick Immersion—The Fundamentals of OMB’s Uniform Grant Guidance (2 CFR 200)

Webinar • Tuesday, March 1, 2022  • 2:00-4:00 p.m. ET

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$249.00 Quick Immersion—The Fundamentals of OMB’s Uniform Grant Guidance (2 CFR 200) (03.01.22) (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

With billions in federal grant dollars flowing in response to the pandemic, lots of recipient and subrecipient organizations are confronting federal fund management questions that they’ve probably never encountered. At the center of many of these questions are requirements of the “uniform guidance”— officially, the “Uniform Administrative Requirements, Cost Principles and Audit Requirements,” codified by OMB in Title 2 of the Code of Federal Regulations, Part 200.

This regulation shows up in virtually all the grant programs authorized under the COVID-19 related grants legislation. For example, the Treasury Department is requiring recipient governmental units of its flexible $350 billion State and Local Fiscal Recovery Fund to follow 2 CFR 200. Scores of other grant programs authorized under the American Rescue Plan Act and run by other federal grantor agencies are also subject to the requirements.       

So people in your federally funded organization need a working understanding of the key policies contained in this hefty federal document. A leisurely “deep dive” would be nice but, right now, what’s probably needed is a timely “quick immersion.” That’s what this webinar will provide. Presented in laymen’s terms, the session will highlight provisions from the uniform guidance that decisionmakers need to grasp and follow. Participants will learn about:

  • Required documentation for personnel expenses (time and effort reporting).
  • Key steps to take when purchasing goods and services with grant funds.
  • How to “partner” with subrecipients and then monitor them appropriately.
  • Rules for taking care of equipment and supplies acquired under a federal award.
  • Why the question, “Can we charge this to our grant?” is often answered, “It depends.”
  • The long list of required grant reports and the consequences for doing them late or wrong.
  • Why the people in the finance department who sign those reports act like they do.
  • What auditors are looking for, and how to help send them away satisfied.
  • How effective (or ineffective) grants management can affect future federal funding.

Bob Lloyd, principal of Federal Fund Management Advisor™, will conduct this session and provide chapter and verse about, “Where does it say that?” An objective subject matter expert with over 40 years of experience in federal award implementation, he has seen the consequences when these grant management fundamentals are not followed.

WHO SHOULD ATTEND:

  • Governing body members
  • Executives
  • Legal counsels
  • Finance directors
  • Accounting staff
  • Purchasing agents
  • Project directors
  • Program managers
  • 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 2.0 CPE Credits

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This comprehensive resource blends age-old conventional wisdom with the historic changes in OMB’s uniform guidance. You'll benefit from the advice of experts on time and effort reporting, procurement under grants, direct charging certain costs, single audit preparations, subrecipient monitoring and much more. The 500+ page softbound book is a valuable management guide, compliance document and training tool for busy grants managers, program directors, financial officers and auditors at nonprofit organizations, educational institutions, and state and local governments.

This valuable resource will help you and your grants management team:

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  • Make the subrecipient vs. contractor determination
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  • Understand which familiar elements of time and effort reporting have been retained in the uniform guidance ... and which are new
  • 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
  • Understand what is meant by audit "resolution"
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