When the U.S. Office of Management and Budget launched its federal grants reform initiative a couple of years ago, it heard many complaints from nonprofit organizations about indirect cost recovery — or, more accurately, the lack of it. OMB was told that some federal agencies and countless pass-through entities were refusing to recognize and reimburse these legitimate costs of performing federal awards.
Many nonprofit organizations were unable to obtain a negotiated indirect cost rate agreement with the federal government because they often didn’t have a direct funding relationship with a federal agency. Further, even when they calculated their rate according to the applicable procedures, pass-through entities were refusing to accept the calculation unless it was federally approved.
Talk about a “Catch 22”! Even those organizations that did have federally negotiated rates encountered resistance from awarding agencies in fully accepting them.
So OMB stepped in to address these problems with new government-wide policies that will have a big impact on nonprofit organizations. The new policies require full recognition of federally negotiated rates where they exist and mandate alternative methods for indirect cost recovery for those that don’t have federal rates.
The policies open the door to fair treatment, but nonprofit organizations need to understand how to formulate their indirect cost documentation in accordance with OMB’s new procedures and how to convince federal agencies and pass-through entities to accept those calculations. This webinar will provide you with the tools to do that.
You’ll learn answers to these — and other — questions:
- What do the new federal rules say about decisions to charge costs indirectly?
- What are the real requirements on federal agency indirect cost cognizance?
- How are federal agencies being forced to recognize federally negotiated rates?
- What kinds of discretion will pass-through entities still have?
- What options are available for nonprofit organization subrecipients to recover their indirect costs?
- What are the procedural steps to develop and present defensible rate calculations?
- What federal resources are geared specifically to helping nonprofit organizations recover their indirect costs?
- What role will an organization’s single audit play in indirect cost recovery?
Hear Bob Lloyd, principal of Federal Fund Management Advisor™, lead this detailed session specifically geared to the needs of nonprofit organizations.
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 Thompson 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
- Finance directors
- Accounting staff
- Internal auditors
- External auditors
Can't make the scheduled session? Select the OnDemand Recording to listen in from anywhere with an Internet connection. Available 48 hours after the conference.
Attendees will receive presentation slides as well as access to background materials.
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 1.5 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.