Washington, DC (PRWEB) March 16, 2012
Federal Fund Management Advisor is pleased to announce its March 22 strategic news briefing, OMB’s Federal Grant Reform Initiative — A Strategic News Briefing for Recipients and Subrecipients. See details at http://federalfundmanagement.com/webinars/wg207_032212.
The Office of Management and Budget (OMB) is beginning an ambitious process of revising its grants management circulars, and is seeking input from interested parties. During this strategic news briefing designed to help federal grant recipients and subrecipients better understand what is being proposed – and be in position to effectively comment on the proposals – Bob Lloyd will draw on his nearly 40 years of experience working with the OMB requirements to clarify how the proposals would affect what is currently required, and gauge their possible impact going forward. He’ll also identify issues that OMB has not included in its list that have been documented as problems by the recipient community in the past and for which solutions are still needed.
Last month, in an announcement published in the Federal Register, OMB sent up nearly 30 “trial balloons” on possible ways that the circulars it uses to form the critical mass of grants management requirements can be clarified, streamlined and improved. This is the most comprehensive effort that OMB has pursued in decades to overhaul federal assistance management. It also represents a rare opportunity for recipients and subrecipients to identify policies that have caused them longstanding problems and to suggest solutions from the “receiving end” of federal grants.
The first step in the process is a 30-day comment period that will allow interested parties to react to OMB’s ideas as well as suggest ones of their own. That comment period closes March 29. After OMB sifts through those comments, it intends to propose actual text changes to the circulars and to propose incorporating them into a comprehensive federal assistance regulation to be codified in Title 2 of the Code of Federal Regulations. A 60-day public comment period is expected to parallel that effort.
During the March 22 briefing, Bob Lloyd will analyze some of the proposals on the table, including:
- Raising the thresholds that would trigger audit coverage under the Single Audit Act and OMB Circular A-133;
- Streamlining the number of compliance requirements that would be tested in single audits;
- Encouraging broader use of predetermined indirect (facilities and administrative) cost rates;
- Exploring alternatives to current burdensome time and effort reporting procedures; and
- Consolidating and coordinating the current administrative requirements for governmental and nongovernmental grantees.
The briefing will be conducted by Bob Lloyd, principal of Federal Fund Management Advisor and a veteran of nearly 40 years of experience working with the OMB requirements. Read more about the presenter at http://federalfundmanagement.com/company/professional-services.
Visit http://federalfundmanagement.com/webinars/wg207_032212 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, “Be Sure to Take Time Now to Comment on OMB’s Grant Reform Proposals,” and more in the E-Strategy Archives.