Time and Effort Reporting Under Federal Awards to Be Addressed in Third Installment of New OMB Grant Reform Webinar Series

On Jan. 30, Federal Fund Management Advisor will advise participants on time and effort reporting under federal awards.

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Washington, DC (PRWEB) January 20, 2014

Front and center in the two-year-long effort by OMB to reform federal grants management policies was the objective to streamline and simplify time and effort reporting. Last month, OMB rolled out a new set of requirements, ostensibly intended to reduce reporting burden. Some observers, however, are already questioning whether that will be the result. During “Time and Effort Reporting for Your Federal Awards — The Way Forward,” the third installment in a six-part series of webinars on the new OMB grant reform package, Federal Fund Management Advisor will take a “deep dive” into the new time and effort reporting requirements to explain what will change, what won’t and how organizations can transition effectively.

On Jan. 30, federal grants expert Bob Lloyd will provide 60 minutes of presentation followed by 30 minutes devoted to individual questions. Participants will learn:

  • How are the new policies structured and why is that important?
  • Who will have to complete time and effort reports?
  • What level of detail will be required?
  • What are the required frequencies of reporting?
  • What kinds of signatures or certifications will be required?
  • What special rules continue to exist for institutions of higher education (IHE)?
  • How much flexibility will recipients and subrecipients have in designing their own documentation systems?
  • What roles can budgeted amounts and time estimates play in documenting time and effort?
  • What are the rules permitting alternative substitute systems?
  • What audit vulnerabilities are likely to remain?

Visit http://federalfundmanagement.com/webinars/omb-reform for more details and registration information about this program and the full series of webinars dedicated to the new OMB grant reform package, including February sessions on subrecipient management and monitoring, and OMB’s new consolidated cost principles.

Bob Lloyd is a respected authority on policies and practices affecting the award, administration and oversight of federal grants, contracts and subawards. Mr. Lloyd has more than 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 16 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, published by Atlantic Information Services. He also is a Charter Life Member of the National Grants Management Association and served on its Board of Directors for five years.

Attendees of the Live Webinar Can Earn Up to 1.5 CPE Credits
Federal Fund Management Advisor is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: http://www.learningmarket.org.

About Federal Fund Management Advisor
Federal Fund Management Advisor is an 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, “On Federal Grants Reform, You Don’t Have to Be a ‘Sooner’.”


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