Among the biggest changes that the Office of Management and Budget made when it completed its major grant reform initiative and issued its “Super Circular” was a new comprehensive single set of cost principles that governs grant expenditures made by governmental units, institutions of higher education and nonprofit organizations.

The consolidation of previous separate cost principles for each sector of the recipient and subrecipient community would be significant enough on its own. But the substance of many cost allowability determinations has been changed in ways that liberalize some and tighten others. Something that hasn’t changed, however, is that the principles remain just that — a set of policies to be applied to the facts and circumstances surrounding the incurrence of costs that will be charged to the federal government. In a nutshell, they are still subject to interpretation.

Since the principles are the key tool for future budgeting, administration and settlement of awards, it is essential that top managers, finance staff, program officials and independent auditors gain a proper understanding of them now. That is what this webinar will provide.

Attendees will learn:

• How the new principles have re-packaged longstanding and important general tests of allowability
• What principles have new names and why that’s important
• What allowability changes affect “big ticket” costs that are significant in most grant budgets
• The new documentation instructions covering time and effort reporting and indirect cost recovery
• How the principles will continue to affect fixed-amount awards
• What previously problematic policies have been dropped
• How the key terms “prior approval” and “advance understanding” now interrelate
• Where audit vulnerabilities remain

This session will serve as an excellent way to bring everyone in your organization who touches a federal grant, cooperative agreement or subaward up to speed on the new cost principles. Join Bob Lloyd, principal of Federal Fund Management Advisor™, for this timely and informative presentation. And, by the way, the new principles state simply, “The cost of training and education for employee development is allowable” (2 CFR 200.472).

WHO SHOULD ATTEND?

• Grant and contract managers
• Sponsored programs administrators
• Program managers
• Executives
• Finance directors
• Accounting staff
• Principal investigators on research projects
• Internal auditors
• External auditors

Hand-out Materials:

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

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).

Attend this Live Webinar and Earn up to 2.0 CPE Credits
Federal Fund Management Advisor™ is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.