Washington, DC (PRWEB) July 03, 2012
Federal Fund Management Advisor is pleased to announce its July 10 webinar, Indirect Cost Recovery on Federal Awards—The Essentials. This webinar — an encore of a highly acclaimed program held in January — is an effective introduction for those participants who have limited exposure to the subject and a solid refresher for those who have worked more extensively with federal award costing issues. See webinar details at http://federalfundmanagement.com/webinars/wg217_071012.
Misunderstanding abounds whenever the topic of indirect costs associated with federal awards surfaces. It stretches from members of Congress and other elected officials, to the media, and even to some staff members of federal awarding agencies. Recipients, subrecipients, contractors, and subcontractors are often confused, too.
Yet, the underlying federal policies on the subject have withstood the test of time. That’s because they are based on some relatively simple concepts of fairness and proper accounting treatment, such as —
- Each grant-supported project should bear its proper share of the costs that benefit it.
- Some costs that are incurred for common purposes cannot be readily identified with a particular federally funded project.
- Performing detailed cost accounting to determine some of these types of expenses is time-consuming and wasteful.
- Having one federal cognizant agency handle the negotiation of indirect cost rates simplifies and streamlines the process.
But, as with a lot of subjects, the devil is in the details. And, now the U.S. Office of Management and Budget is taking a fresh look at some of those details as part of its recently announced grant reform effort. There’s active discussion about new approaches to predetermined and fixed indirect costs rates that could affect your indirect cost recovery. Comments received show that not everyone is thrilled at the prospect.
This presentation, followed by a question and answer session, will:
- Differentiate among the often confusing and overlapping terms;
- Describe the regulatory policies affecting different types of performers (state, local and tribal governments; colleges and universities; hospitals; and other nonprofit organizations);
- Highlight guidance tools that organizations can use to develop, present and negotiate indirect or F&A cost rates;
- Demonstrate how indirect cost rates are used in award budgeting;
- Review how indirect costs are claimed on individual federal awards;
- Address problem areas like statutory or regulatory cost limitations and rate calculations for organizations with no direct federal relationships;
- Identify areas of audit vulnerability; and
- Capture details about possible OMB policy changes
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.
Visit http://federalfundmanagement.com/webinars/wg217_071012 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, “Hang a Lantern on Your Federal Grant Problem: Bear Your Own Bad News.”