On October 5, 2023, OMB published a proposal for a fundamental rewrite the Uniform Guidance 2 CFR 200. The White House announced that “the proposal will materially decrease the burden on recipients of Federal financial assistance, advance equity and job growth across the country, and meaningfully improve the administration of Federal financial assistance.” See links below.
Specifically, OMB states the following reasons for the proposed revisions: “(1) incorporating statutory requirements and administration priorities; (2) reducing agency and recipient burden; (3) clarifying sections that recipients or agencies have interpreted in different ways; and (4) rewriting applicable sections in plain language, improving flow, and addressing inconsistent use of terms.” The comments are due to OMB by December 4, 2023. OMB intends to publish the final revisions by April 2024. Links to the document is shown below.
This session will discuss the general purpose of the Uniform Guidance 2 CFR and dig deep into the following questions:
- What are the major revisions in the proposal?
- How will the revisions impact the administration on your research grants?
- When will the revisions become effective?
https://www.federalregister.gov/documents/2023/10/05/2023-21078/guidance-for-grants-and-agreements
Content level: Intermediate
Learning objectives:
- Understand all the revisions made in the different sections of Uniform Guidance 2 CFR 200
- Assess the impact of the revisions on the research administration functions at the institution. Evaluate the cost impact for implementation
- Learn the timeline for implementation of the specific revisions (e.g. equipment threshold, single audits, subaward amount in MTDC)
Track: Finance
Speaker(s): Gil Tran, Senior Specialist Leader, Attain Partner