530 - Policies and Regulations

The Office of Management and Budget (OMB) uniform guidance requires recipients to have written policies. Written policies and procedures strengthen an entity’s system of internal control (§200.303). Internal controls provide reasonable assurance that federal funds will be managed and expended as intended. As a result, written policies and procedures give them a viable defense in case of a governmental investigation, providing “reasonable assurance” to an auditor and the awarding agency that the recipient is making a good-faith attempt to comply with the grant. Written policies and procedures also provide guidance to internal staff and external audiences, such as subrecipients,… Read More