Address Key Grant Cost Vulnerabilities Now
It comes with the territory for recipients and subrecipients of federal grants: scrutiny of the costs you have charged to your awards. Sometimes the scrutiny comes in the form of a site visit from grantor agency officials when they look closely at the charges made against an award. More often, it comes from independent auditors conducting your organization’s single audit. Occasionally, auditors from a federal inspector general’s office will arrive at your door with their uniquely skeptical viewpoint.
Regardless of who is doing the examining, they are sure to review a sampling of transactions from multiple programs and projects. Audit readiness means knowing what the key vulnerabilities are and preparing yourself for close scrutiny in advance. And that’s what this webinar is designed to help with.
Based on analysis of trends and issues that have surfaced in federal government sources, this session highlights the vulnerabilities in the federal cost principles that are causing other recipients and subrecipients the most trouble and often the greatest cost disallowances. We’ll cover:
- Issues surrounding the adequacy of documentation, including for time and effort reporting
- Differing interpretations of reasonableness
- Accounting consistency concerns
- When prior approvals and advance understandings are necessary
- Charges that are likely to attract particular attention such as:
- Sole source procurements of services
- Meetings and conferences
- Adjustments to employee compensation
- Staff morale and welfare
- Idle facilities and capacity
- And much more…
Presenter Bob Lloyd, principal of Federal Fund Management Advisor, has many years of experience advising and training recipient and subrecipients on cost allowability.
Prerequisites: Some knowledge of federal grant management and audit requirements is helpful
Advanced preparation: None
Attendees will receive presentation slides as well as access to background documents.
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 A Practical Guide to Federal Grants Management — From Solicitation Through Audit and several other 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
- Sponsored projects administrators
- Subaward managers
- Finance directors
- Accounting staff
- Internal auditors
- External auditors
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).