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Understanding and Using the De Minimis Indirect Cost Rate - Back by Popular Demand!

Webinar • Thursday, September 21, 2017 • 2:00-3:30 p.m. ET

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Webinar
$249.00


$249.00 Understanding and Using the De Minimis Indirect Cost Rate - Back by Popular Demand! (Webinar)

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$249.00 Understanding and Using the De Minimis Indirect Cost Rate - Back by Popular Demand! (OnDemand)

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$249.00 Understanding and Using the De Minimis Indirect Cost Rate - Back by Popular Demand! (CD Only)

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$349.00 Understanding and Using the De Minimis Indirect Cost Rate - Back by Popular Demand! (Webinar + OnDemand)

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$349.00 plus $12 S&H


$349.00 Understanding and Using the De Minimis Indirect Cost Rate - Back by Popular Demand! (Webinar + CD)
Webinar Details

Subject: Grants Management

Prerequisites: Some knowledge of federal grant management and audit requirements is helpful

Recommended Field of Study: Accounting (including Government Accounting)

Program Knowledge Level: Basic

Advanced Preparation: None

Credit Information

CPE Credits Thompson Information Services 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 addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417.

www.nasba.org


When the Office of Management and Budget issued its “Super Circular” to reform and consolidate federal grants management policy, it introduced a new concept on indirect cost recovery known as the “de minimis” indirect cost rate. It apparently thought that this action would help simplify the lives of many recipients and subrecipients. But it hasn’t actually turned out that way.

When you look that the term in a legal dictionary, you get some more Latin — de minimis non curat lex — “the law does not care about trivial things.” When you look in Merriam-Webster’s, you get “so minor as to merit disregard.” Unfortunately, when the phrase is applied to the current federal fund management landscape, “trivial” doesn’t describe what’s happening and “disregard” has often been replaced with confusion.

Many staff from federal agencies, pass-through entities, recipient and subrecipient organizations, and independent audit firms share in the confusion about when and how to employ the new method and what accounting and auditing steps go along with it.

This webinar is intended to clear up your confusion by analyzing the various policy statements contained in the “Super Circular” and by answering the many “retail questions” that the broad federal grants community has been raising. During this detailed session, you’ll learn:

  • What is the basis for this new policy and what are its intended advantages?
  • Which recipients and subrecipients are eligible to elect use of the de minimis rate?
  • Can the de minimis rate be used on some federal awards but not others?
  • Can a federal agency or pass-through entity force a lower-tier organization to use the rate?
  • How is the de minimis rate calculated?
  • How does OMB define the required “modified total direct cost” base?
  • What kind of documentation is required to support the rate?
  • How is the rate reviewed during a single audit?

Bob Lloyd, principal of Federal Fund Management Advisor™, will conduct this authoritative session. Bob’s hands-on experience with federal indirect cost policy includes joint authorship of the federal government’s guide for state and local government development of indirect cost proposals. During his long career in federal award implementation, he has conducted hundreds of training sessions providing clear instruction on grant cost allowability and proper charging practices.

WHO SHOULD ATTEND:

  • Grant and contract manager
  • Sponsored projects administrators
  • Finance directors
  • Controllers
  • Accounting staff
  • Federal program managers
  • 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 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.

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Get practical grants management guidance that blends age-old conventional wisdom
with the historic changes in OMB’s uniform guidance:
Add A Practical Guide to Federal Grants Management -
From Solicitation Through Audit, 2nd Edition
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This comprehensive resource blends age-old conventional wisdom with the historic changes in OMB’s uniform guidance. You'll benefit from the advice of experts on time and effort reporting, procurement under grants, direct charging certain costs, single audit preparations, subrecipient monitoring and much more. The 500+ page softbound book is a valuable management guide, compliance document and training tool for busy grants managers, program directors, financial officers and auditors at nonprofit organizations, educational institutions, and state and local governments.

This valuable resource will help you and your grants management team:

  • Understand the differences between direct and indirect costs
  • Make the subrecipient vs. contractor determination
  • Realize the full impact of OMB’s emphasis on internal controls
  • Understand which familiar elements of time and effort reporting have been retained in the uniform guidance ... and which are new
  • Know the nuances of requirements for subrecipient assessment and monitoring
  • Understand contract clauses in agreements for procurement under grants
  • Apply the general tests of allowability
  • Understand special issues confronting pass-through entities contracting with foreign organizations
  • Know which clauses flow down when crafting a subaward
  • Understand what is meant by a 10% de minimis indirect cost rate
  • Audit the vulnerabilities in your grants management operation
  • Understand what is meant by audit "resolution"
    ...and much more

A Practical Guide to Federal Grants Management is the best insurance policy there is for limiting your organization’s risk of disallowed costs, loss of federal funding and public relations nightmares. Add it to your order today!

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