130 - Uniform Grant Guidance

On Dec. 26, 2013, the Council on Financial Assistance Reform (COFAR) and the Office of Management and Budget (OMB) released the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, commonly known as the uniform guidance. The release of the uniform guidance was the biggest initiative since the Single Audit Act of 1984, which merged disparate audit requirements into a single audit protocol, resulting in OMB Circular A-133. The uniform guidance merged eight previously separate OMB grants circulars into one comprehensive set of regulations, although it retained in its appendices some provisions that vary for different types of… Read More