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Time and Effort Reporting: Still a Federal Grants Management Headache

Webinar • Thursday, October 31, 2019  • 2:00-3:30 p.m. ET

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$249.00 Time and Effort Reporting: Still a Federal Grants Management Headache (10.31.19) (On-Demand Recording)

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$249.00 Time and Effort Reporting: Still a Federal Grants Management Headache (10.31.19) (CD Only)
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

Maybe you’ve achieved a comfort level about your time and effort reporting system for federal grants. If so, congratulations! Many others would love to be there, but aren’t.

Yes, the recent overhaul to the federal rules eliminated some troublesome features about the timing of reporting and supervisory verification. But it also put affected organizations in limbo by requiring that time and effort records “be supported by a system of internal controls that provides reasonable assurance that the charges are accurate, allowable and properly allocated.” The problem? The government didn’t describe very well what that actually looks like.

Now, something else has come along too — controversial new Department of Labor regulations addressing executive, administrative and professional exemptions to the Fair Labor Standards Act’s requirements for overtime compensation. Federal grant time and effort requirements often live at the intersection of OMB and DOL requirements. Overlay that with unique requirements, perhaps mandated by state law or by employer practices, and a reassessment is probably in order.

The webinar will help you conduct a timely review of your time and effort reporting practices. You’ll get answers to these, and many other, questions:

  • What features of time and effort reporting remain standard?
  • How should organizations build procedures around the elements of internal control?
  • What standards of distribution apply when an employee works on more than one activity?
  • How can grant budget estimates be used for interim accounting purposes?
  • What role can job descriptions and job duties serve as documentation for effort?
  • What kinds of procedures must be in place for reconciliations?
  • Under what circumstances must documentation of actual tasks performed be required?
  • What unique features must be employed by institutions of higher education?
  • What special rules apply to substitute systems that can be used by governmental entities?
  • What documentation must be maintained for Fair Labor Standards Act compliance?
  • How will the recent changes to the FLSA impact my time and effort practices?
  • Are there good examples that can be used to fashion compliance documents?

Join Bob Lloyd, principal of Federal Fund Management Advisor, for this comprehensive and practical program on examining and updating your time and effort reporting practices.

Who Should Attend?

  • Human resources managers
  • Grant and contract managers
  • Sponsored projects administrators
  • Grant project managers
  • Principal research investigators
  • Finance directors
  • Accounting staff
  • 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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Finally! A practical guide to grants management.

Get practical grants management guidance that blends age-old conventional wisdom
with the historic changes in OMB’s uniform guidance:
Add A Practical Guide to Federal Grants Management -
From Solicitation Through Audit, 2nd Edition
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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:

  • Understand the differences between direct and indirect costs
  • Make the subrecipient vs. contractor determination
  • Realize the full impact of OMB’s emphasis on internal controls
  • 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"
    ...and much more

A Practical Guide to Federal Grants Management is the best insurance policy there is for limiting your organization’s risk of disallowed costs, loss of federal funding and public relations nightmares. Add it to your order today!

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