Whether you are new to the game or already a pro at obtaining and managing Federal grants, there’s no doubt that timing, compliance and reporting are paramount when working with this important funding source.

News Flash! The Federal Office of Management and Budget (OMB) has recently published revised guidance to Federal agencies on administering and managing Federal awards in Title 2 of the Code of Federal Regulations. This revised Guidance aims to reduce the burdens on grant recipients and increase overall transparency with respect to annual Federal assistance. 

Title 2 CFR Part 200 (formerly OMB A-87) establishes uniform administrative requirements, cost principles, and audit requirements for Federal awards to non-Federal entities. Revisions are effective for all Federal awards issued on or after October 1, 2024.

By May 15, 2024, all Federal agencies must submit their implementation plan to OMB to comply with these 2024 Revisions. Federal agencies may elect to apply the 2024 Revisions to Federal awards issued prior to October 1, 2024, but they are not required to do so.

This will be the most substantial revision to the Guidance to date. It reflects input from over 50 Federal agencies as well as the states, local governments, Tribal organizations, nonprofits, colleges and universities, and companies, as well as 3,200 public comments addressing pain points and inconsistencies within the previous version of the Guidance.

The team at NBS will be prepared to assist you in navigating the changed landscape, and in the meantime, here are some helpful links:

See pre-publication of the Uniform Guidance and Memorandum from OMB:
https://www.cfo.gov/resources/uniform-guidance/

Subscribe for updates from the Federal Register, where the final version of the updates will eventually be published.
https://www.ecfr.gov/current/title-2/subtitle-A/chapter-II/part-200?toc=1