Washington, DC (PRWEB) April 01, 2013
After years of complaints on time and effort reporting requirements, the Office of Management and Budget recently announced it was undertaking a major reform initiative on federal grants management.“Time and Effort Reporting on Your Federal Grants — The Continuing Challenge and the Way Forward,” an upcoming April 9 webinar from Federal Fund Management Advisor, will review current grants management policies and the Office of Management and Budget’s recently released proposal draft reform initiative, and then assess how the proposed standards will impact organizations and their current time and effort reporting.
Documenting time and effort on federal grant awards has been a source of confusion, disagreement and controversy for decades. Compensation for personal services of employees is often the largest component of grant expenditures. The absence of documentation to support grant charges is the most common reason why costs are questioned by auditors, and recipients and subrecipients from all sectors have complained loudly for years that the current requirements are burdensome and unrealistic.
When the Office of Management and Budget announced it was undertaking a major reform initiative on federal grants management, it was natural that it would take on revising the policies for time and effort reporting. OMB’s draft plan, released on Feb. 1, calls for a single set of guidance that will be applied to all types of recipients and subrecipients.
The April 9 webinar will discuss the way forward on time and effort reporting on federal grants. Participants can expect answers to these and other questions:
- What are the most common effort reporting vulnerabilities?
- Which current policies served as the basis for the proposal?
- What will be the minimum expectations for reporting systems?
- To what extent will organizations be able to keep standing policies?
- How much flexibility will there be on the content and timing of documentation going forward?
- What are the possibilities for substitute systems or ones based on programmatic outputs?
- What other policies is OMB proposing that will have an impact on future effort reporting?
- When and how can organizations comment on the proposal and suggest improvements?
Visit http://federalfundmanagement.com/webinars/wg308_040913 for more details and registration information.
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 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 and Federal Auditing News, published jointly by Atlantic Information Services and NACUBO. 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, “Challenging Arbitrary Limits on Indirect (Facility and Administrative) Cost Recovery.”