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Cash Management on Your Federal Grant - Getting It Right

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Webinar Details

Subject: Grants Management

Debunk the ‘Urban Legends’ About Grant Cash Management

Reduced to its essentials, receipt of a federal grant is about having cash to pay for the important program activities that made federal assistance necessary. That seems pretty simple. Unfortunately, misconceptions abound about how that federal cash is to be drawn, safeguarded and disbursed.

Start with the fact that state grantees are governed by a separate statute and some arcane regulations issued by the U.S. Treasury Department that most people haven’t read lately. Those policies differ in important ways from the ones that apply to other types of organizations receiving direct federal awards. The operational details about all these direct disbursements have also been repackaged in the OMB “Super Circular” — the recently issued consolidation of policies affecting all federal grants and subawards.

Further, when federal awards are passed through to subrecipients, the rules are much less clear about how things are supposed to work. And, frankly, some pass-through entities have been doing things incorrectly for so long that their practices have become accepted as gospel.

This webinar will drill down on the actual requirements and provide participants with a solid understanding of what’s really supposed to happen when you disburse cash under a federal grant. It will also identify places where corrections may be warranted and where vulnerabilities remain.

You’ll learn answers to these critical questions:

  • How has the term “cost reimbursement” been misconstrued?
  • Who are the key federal players on grant payment and cash management, and why is that important?
  • What are the key features of the Cash Management Improvement Act, and how do they affect states and their subrecipients?
  • What payment methods are available to federal agencies, and how are they used?
  • How are pass-through entities actually required to pay subrecipients?
  • What mandated internal controls apply to federal cash in hand?
  • What are the rules on interest earned on federal cash advanced?
  • How quickly does federal cash really have to be disbursed?
  • What rules apply to payments to contractors under grants?
  • What cash management tests must be conducted during your single audit?
  • What restrictions can be placed on your federal award because of cash management errors?

Bob Lloyd, principal of Federal Fund Management Advisor, presents this timely and accurate session. He debunks the numerous cash management “urban legends” and sets you on the right track to manage for this critical grants function.

Level: Basic
Prerequisites: Some knowledge of federal grant management and audit requirements is helpful
Advanced preparation: None

Hand-out Materials

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

Course Instructor

BOB LLOYD is a respected authority on policies and practices affecting the award, administration and oversight of federal grants, contracts and subawards. Mr. Lloyd has more than 40 years of experience in federal award implementation. Prior to starting his management consulting practice in Washington, D.C., in 1982, he served as the executive director of the Grants Management Advisory Service and held staff positions in two large federally funded organizations. Since then, he has been a consultant, trainer or advisor to award and audit units in 16 federal award-making departments and agencies, and to recipient and subrecipient organizations and their professional advisors located in all 50 states, the District of Columbia, several U.S. territories and 18 foreign countries. He is the principal author of several reference works on federal grants management and audits, and currently serves as contributing editor to Federal Grants News, published by Atlantic Information Services. He also is a Charter Life Member of the National Grants Management Association and served on its Board of Directors for five years.

Who Should Attend?

  • Grant and contract managers
  • Accounting staff
  • Revenue administrators
  • Sponsored projects administrators
  • Human resources professionals
  • Program managers
  • Principal research investigators
  • Internal auditors
  • External auditors

Allowable Charges

The costs of webinars sponsored by Federal Fund Management Advisor™ are allowable charges to your federal grants and subgrants. The cost principles issued by OMB under its uniform guidance (and applicable to all types of awardees) state, “The cost of training and education for employee development is allowable” (2 CFR 200.472).

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