Webinar

OMB Update - Revised Uniform Guidance 2 CFR 200

  • Tuesday, February 23, 2021

    10:00am – 12:00pm
  • 2
    CREDITS
    Accounting (Governmental)

The Uniform Guidance (2 CFR 200) is revised effective November 12, 2020. The Uniform Guidance provides the rules for grants and cooperative agreements funded by the U.S. Government. The revision reflects a foundational shift to focus on enhanced results-oriented accountability for grants and cooperative agreements. As a part of President's management agenda, the revision will improve stewardship and ensure the American people receive value for Federal funds spent on various grant programs.

Objectives

  • Understand the critical updates to the Uniform Guidance
  • Compare the precise language changes for the various policies and procedures
  • Learn the key updates organized by each revised topic
  • Ability to take action to enhance an organization’s existing procedures to conform to this important update

Highlights

  • New and revised definitions
  • Clarification on the use of time periods
  • Emphasis on performance and outcomes
  • New cost principle
  • New prohibitions
  • New procurement preference and refocus on public policy objectives
  • Clarification on sub-recipients with no direct funding
  • Relaxing the rule for NICRA to De Minimis rate usage
  • The flexibility that no “one-size-fits-all” procurement standards

Additional Information

Designed For

Public Accountants, Consultants, Awardees of Federal Grants and Cooperative Agreements which include: nonprofits, institutes of higher education, hospitals, Federal, state, local and tribal units of government, as well as commercial firms. Specific positions might include: Director of Finance, grants administrator, legal, program personnel, principal investigator, auditors, and department heads overseeing Federal grants and cooperative agreements

Vendor

ACPEN

Advanced Preparation

None

Credits

2.00 Accounting/Yellow Book

Prerequisite

Working with the prior version of the Uniform Guidance

Course Number

202913975

Level of Knowledge

Update

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