Washington, DC (PRWEB) December 08, 2014
When the Office of Management and Budget took on federal grant reform a couple of years ago, it sought to clarify effort reporting requirements and reduce the burden on auditees. What OMB settled on in its guidance — applicable to new federal awards after December 26, 2014 — is a patchwork of requirements. The Dec. 17 Federal Fund Management Advisor webinar, “Unraveling OMB’s New Time and Effort Reporting Requirement: What Will Pass Muster Going Forward?” will help organizations understand OMB’s new guidance on time and effort reporting, so they can create a disciplined system that will survive scrutiny.
In 60 minutes of presentation followed by 30 minutes devoted to individual questions, Federal Fund Management Advisor Principal Bob Lloyd will provide answers to these, and many other, questions:
- What role can budgeted levels of effort play in documenting personnel costs?
- Why is full disclosure of all employee effort critical to a credible reporting system?
- What kind of supervisory review of employee-generated data makes sense now?
- What is the appropriate timing for effort reporting?
- What kind of internal control features will provide the “reasonable assurance” that is being sought?
- Which recipients will be allowed to employ substitute systems and how will these be approved?
Visit http://federalfundmanagement.com/webinars/wg434_121714 for more details and registration information.
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 A Guide to OMB Grant Reform and several other 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 provides recipients and subrecipients of federal funds with accurate, responsible and practical advice concerning the acquisition, administration and oversight of federal grants, cooperative agreements and contracts. Through management, compliance and best practices webinars, and a wide variety of technical assistance capabilities, this advisory service can help organizations navigate effectively in today’s highly charged federal fund accountability atmosphere. Visit http://www.federalfundmanagement.com.