OMB Update - Revised Uniform Guidance 2 CFR 200: Including Performance-BasedPayments, Significant Changes to the Procurement

Friday, October 01, 2021
Webcast or Webinar, Online
2:00 PM - 3:46 PM (opens at 1:30 PM) EST
2Credits
Accounting and Auditing

Registration is Closed

Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.

Members
$79.00 Regular Price
Non-Members
$109.00 Regular Price
Course Type: Webcast
Course Code: 21/AC914050
Level: Update
Vendor: ACPEN
Field of Study: Accounting (Governmental)

Overview:

The Uniform Guidance (2 CFR 200) is revised effective November 12, 2020. The Uniform Guidance provides the rules for grants and cooperative agreements funded by the U.S. Government. The revision reflects a foundational shift to focus on enhanced results-oriented accountability for grants and cooperative agreements based on performance. As a part of President’s management agenda, the revision will improve stewardship and ensure the American people receive value for Federal funds spent on various grant programs. This update will provide an example of performance initiates by demonstrating performance-based payments using unit cost rates in lieu of cost reimbursable invoicing.

 

Objectives:

  • Understand the critical updates to the Uniform Guidance
  • Obtain a working knowledge of how Performance-Based Payments operate with Unit Cost Rates in Lieu of cost reimbursable invoicing.
  • Compare the precise language changes for the various policies and procedures
  • Learn the key updates organized by each revised topic
  • Ability to take action to enhance an organization’s existing procedures to conform to this important update

Major Topics:

  • New and revised definitions
  • Clarification on the use of time periods
  • Emphasis on performance and outcomes
  • Performance-Based Payments using unit cost rates in lieu of cost reimbursable invoicing
  • New cost principle
  • New prohibitions
  • New procurement preference and refocus on public policy objectives
  • Clarification on sub-recipients with no direct funding
  • Relaxing the rule for NICRA to De Minimis rate usage
  • The flexibility that no “one-size-fits-all” procurement standards

Designed For:

Public Accountants, Consultants, Awardees of Federal Grants and Cooperative Agreements which include: nonprofits, institutes of higher education, hospitals, Federal, state, local and tribal units of government, as well as commercial firms. Specific positions might include: Director of Finance, grants administrator, legal, program personnel, principal investigator, auditors, and department heads overseeing Federal grants and cooperative agreements

Prerequisite:

Working with the prior version of the Uniform Guidance