In pursuing federal grants reform, the U.S. Office of Management and Budget has been exploring innovative award designs that depart from features of longstanding and familiar cost-reimbursable awards. In a key example from its Uniform Grants Guidance (2 CFR 200), OMB pushed open the door to greater use of something called “fixed amount awards.” OMB gave federal agencies broad authority to make those awards and to permit pass-through entities to make fixed amount subawards.

The concept of a fixed amount grant award has been around for years. But, surprisingly, the positive implications of these instruments have largely escaped notice because only a few federal agencies have employed them in the past and, then, only in limited circumstances. Unfortunately, too, when OMB recently sought to expand use of these awards, the associated policies and procedures weren’t explained fully or clearly.

Perhaps now is the right time to make use of these instruments. Afterall, one of OMB’s regulatory statements should be enough make you want to find out what these awards are all about: There will be “no governmental review of actual costs incurred by the non-federal entity.”

This webinar has been organized to provide you with the full policy details about fixed amount awards — what to expect when you receive one and what to do if you’re making one. You’ll get answers to questions like:

• What circumstances lend themselves to fixed amount awards and subawards?
• What portions of CARES Act funding suggest use of these instruments?
• Who are the best candidates to receive fixed amount awards and subawards?
• What lessons have been learned by federal agencies that have made fixed amount awards?    
• How does a pass-through entity convince a federal agency to permit fixed amount subawards?
• What’s the lifecycle of a fixed amount award, and how does it differ from the normal award sequence?
• How will the federal cost principles be used to form, review and finalize fixed amounts?
• How should payment procedures be structured to leverage performance?
• What administrative procedures continue to apply to expenditure of the fixed amount?
• What kind of financial and performance reporting is expected?
• How will fixed amount awards be reported and audited?

Fixed amount awards and subawards represent underutilized tools for delivering federal financial assistance. Knowing when and how to proactively seek and use them can enhance program design and administrative simplicity. Join Bob Lloyd — principal of Federal Fund Management Advisor™ and a leading authority on federal policies affecting the award, administration and audit of federal grants, cooperative agreements, contracts and subawards — for this informative session.

WHO SHOULD ATTEND:

• Grant application writers
• Grants managers
• Sponsored projects administrators
• Executives
• Finance directors
• Accounting staff
• Legal counsels
• Resource development staff
• Grant project 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