Federal Grants Expert to Offer Guidance on Time and Effort Reporting Under OMB’s New Grant Reform

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The April 23 webinar from Federal Fund Management Advisor will help participants understand OMB’s guidance on time and effort reporting, and how to address documentation vulnerability.

When the Office of Management and Budget (OMB) undertook grant management reform, it wanted to address how reporting compensation charges could be simplified and made less burdensome while satisfying the need for accountability for recipients and subrecipients. The April 23 Federal Fund Management Advisor webinar, “Time and Effort Reporting on Your Federal Grants: The Way Forward” will help organizations make sure that their internal control system passes muster by translating the new policy language and providing practical advice about how to respond to it.

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 familiar elements of time and effort reporting have been retained?
  •     How can organizations build on those to create the needed system of “internal controls”?
  •     What standards of distribution apply when an employee works on more than one activity?
  •     How can budget estimates be used for interim accounting purposes?
  •     What kinds of procedures must be in place for reconciliations?
  •     Under what circumstances would documentation of work actually performed be necessary?
  •     What unique features must be employed among institutions of higher education?
  •     What special rules apply to substitute systems for governmental units?
  •     What documentation must be maintained under the Fair Labor Standards Act?
  •     Are there examples that can be used to fashion compliant documents?

Visit http://federalfundmanagement.com/webinars/wg509_042315 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.

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Shelly Beaird-Francois
Atlantic Information Services
+1 (202) 775-9008 Ext: 3064
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