Washington, DC (PRWEB) January 11, 2012
Federal Fund Management Advisor is pleased to announce its January 18 webinar, Time and Effort Reporting for Federal Grants: Requirements and Best Practices. See webinar details at http://federalfundmanagement.com/webinars/wg201_011812.
If an organization has a federal grant or subgrant, there is no escaping the reality of timesheets. Since salaries, wages and fringe benefits are such a major portion of most federal awards, understanding the documentation requirements surrounding time and effort recording and distribution is essential to effective compliance.
Risks in this area are even greater with independent auditors performing reviews under Office of Management and Budget Circular A-133 being instructed that federal programs with significant staff payroll costs may be at “high risk” for time and effort reporting problems. This leaves little doubt that they will be pulling some “timesheets” and testing whether they were prepared in accordance with applicable federal requirements.
But those aren’t the only auditors who may be interested in time and effort reporting. Federal auditors from offices of inspectors general have been spending a lot of time on this aspect of federal fund management as well. As a result, the list of recipients and subrecipients who have had costs questioned because of substandard documentation is long and distinguished and cuts across the landscape of governments, universities and nonprofit organizations. Many of them have been told to repay hefty sums or reconstruct records that are credible enough to avoid repayments.
With that backdrop, it’s prudent to take a close look at what the federal government actually requires and what options exist for compliance by recipient and subrecipient organizations. Webinar participants will get answers to these and other questions on time and effort reporting:
- What are the most common effort reporting vulnerabilities?
- What federal policy documents establish the requirements?
- What are the key standards that the federal government imposes?
- What role can budget estimates play in effort reporting?
- What system design options exist for various types of award performers?
- What features of your system are not driven by federal policy?
- How can you fix effort reporting mistakes?
The webinar will be presented by Bob Lloyd, a respected authority on policies and practices affecting the award, administration and oversight of federal grants, contracts and subawards. Mr. Lloyd has nearly 40 years of experience in federal award implementation. Prior to starting his management consulting practice in Washington, D.C., in 1982, he served as the executive director of the Grants Management Advisory Service and held staff positions in two large federally funded organizations. Since then, he has been a consultant, trainer or advisor to award and audit units in sixteen federal award-making departments and agencies, and to recipient and subrecipient organizations and their professional advisors located in all 50 states, the District of Columbia, several U.S territories and 18 foreign countries. He is the principal author of several reference works on federal grants management and audits, and currently serves as contributing editor to Federal Grants News and Federal Auditing News, published jointly by Atlantic Information Services, NACUBO and NCURA. He also is a Charter Life Member of the National Grants Management Association and served on its Board of Directors for five years.
After a 60-minute presentation, a concluding 30-minute question-and-answer session will allow webinar participants to pose individual questions to Mr. Lloyd.
Visit http://federalfundmanagement.com/webinars/wg201_011812 for more details and registration information.
Federal Fund Management Advisor is a new organization that sponsors Federal Funding webinars and delivers free Federal Funding E-Strategies. Go to http://www.FederalFundManagement.com to read the latest E-Strategy, “If it isn’t Documented, Did it Happen?” and more in the E-Strategy Archives.