Federal Fund Management Advisor to Discuss Subrecipient Management and Monitoring Under the New OMB Grant Reform Package

The Feb. 6 webinar will detail the features and tools of subrecipient monitoring and identify steps that must be taken and those that can be taken under OMB’s comprehensive overhaul of federal grants management policy.

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Washington, DC (PRWEB) January 28, 2014

OMB’s comprehensive overhaul of federal grants management policy released in December contains significant changes in the way that awards to subrecipients will be made and overseen. Going forward, discussions on whether an award to a lower tier organization is a subgrant of federal financial assistance or a purchase of goods or services will be an important grant administration topic. Along with that are more precise instructions about what provisions a subgrant agreement should contain and how subrecipient indirect costs can be recognized and charged. The fourth installment in Federal Fund Management Advisor’s webinar series on OMB’s grant reform package, “’Robust’ Subrecipient Management and Monitoring — OMB’s New Prescription,” will help organizations understand what to expect, what they’ll need to do and how to do it.

Federal grants expert Bob Lloyd will provide a 60 minute presentation followed by 30 minutes devoted to individual questions. On Feb. 6 participants will learn:

  • Revised terminology concerning the nature of subawards
  • Roles that federal agencies and pass-through entities will have in making subaward determinations
  • Characteristics indicative of a subrecipient relationship and those indicative of a contractor relationship
  • How to construct templates for subgrant agreements that capture required clauses and introduce advisable ones for larger and higher risk awards
  • Options for acceptance of subrecipient indirect costs, particularly when that organization doesn’t have a direct relationship with a federal cognizant agency
  • Required auditable steps for subrecipient monitoring and determination of subrecipient audit compliance
  • How to consider and employ discretionary monitoring techniques when the situation warrants

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 fixed obligation and performance-based grants, 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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