OMB Reform

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As published in the Federal Register of December 26, 2013 The Office of Management and Budget issued revised guidance on Administrative Requirements, Cost Principles and Audit requirements for Federal awards. The final guidance supersedes and streamlines 8 prior OMB circulars into one consolidated set of guidance in the Code of Federal Regulations. All non-profit organizations receiving Federal Grants, Cooperative Agreements or Cost-based Contracts will need to familiarize themselves with these new requirements. See the attachment for further information:

The superseded circulars include:

  • A-21 – Cost Principles for Educational Institutions
  • A-87 – Cost Principles for State, Local, and Indian Tribal Governments
  • A-110 – Uniform …read more

    Read more here: Nonprofit

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