Details of OMB's Recent Cost Principles Shake-up

In comprehensive revisions issued on April 22, the Office of Management and Budget made lots of important changes to its federal grants management ”uniform guidance.” Nowhere is the shake-up more evident than in Subpart E of 2 CFR 200 — the cost principles, the rules covering costs that can be charged to the federal government.

Recent statutory and executive order policies have been incorporated into the new guidance. Conflicting interpretations and policy gaps that have plagued the guidance since 2014 have been addressed. And OMB took tangible steps aimed at reducing the implementation burdens for both recipients and subrecipients.

Together, the changes alter the familiar cost allowability landscape. This webinar will help you navigate through this new environment by covering:

• Defensible practices for interpreting the revised cost principles
• The clearer definition of “prior approval”
• The treatment of budgeted costs
• The new list of costs allowable “under certain circumstances”
• Elimination of a host of “low value” prior approval requirements
• Dollar threshold changes affecting cost-charging
• The updated definition of equipment costs
• Clarification about prior approval authority for subawards
• Documentation of “advance understandings”
• Use of the cost principles on fixed amount awards and subawards
• Specific allowability of evidence-based project evaluation activities
• Allowability of closeout costs

OMB’s revisions introduce a new learning curve for everyone involved with federal grants. Join us for this comprehensive session intended to help you stay ahead of these developments.

WHO SHOULD ATTEND:

• Grant and contract managers
• Project directors
• Principal investigators
• Sponsored projects administrators
• Executives
• Finance directors
• Accounting staff
• Internal auditors
• External auditors

Hand-out Materials:

Attendees will receive presentation slides as well as access to background materials.