If you receive federal grants, now is the time to evaluate how you manage them.
December 26, 2014 is the start date of comprehensive grant reform which is the result of 2 CFR 200: Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Grant Guidance) which affects all nonfederal agencies that receive grants. Often called the “super circular,” it replaces rules in Office of Management and Budget (OMB) Circulars A-21, A-50, A-87, A-89, A-102, A-110, A-122 and A-133.
The changes to administrative and cost principles in the Uniform Grant Guidance affect any new federal grant issued after December 26, 2014 and impact some additional funds to existing grants after that date as well. Audit changes take effect for fiscal years after that point, so implementation depends on your entity’s year end.
Learn more about the new guidance in our latest MHM Messenger.