Time & Effort Reporting for Federal Grants

Monday, April 03, 2023
Webcast or Webinar, Online
3:00 PM - 4:01 PM (opens at 2:30 PM) EST
1Credits
Accounting and Auditing

Registration is Open

Members
$39.00 Regular Price
Non-Members
$59.00 Regular Price

CPE PowerPass Users

Click the "Apply PowerPass" button to use your PowerPass for the applicable course below.
$18.00 Members / $26.00 Non-Members
Course Type: Webcast
Course Code: 23/AC622804
Level: Basic
Vendor: ACPEN
Field of Study: Accounting (Governmental)

Overview:

Federal grants and cooperative agreements are high risk agreements because they involve mandatory time and effort reporting. We will discuss what is involved with
timekeeping for Federal awards. Specifically, what are the rules prescribed by the Uniform Guidance 2 CFR 200. We will identify a hidden minefield of labor costs based on time reports as they become a part of a “claim” to the US Government. An actual “war story” will back up our assertion. Our presentation includes a practical interpretation of the regulations, best practices and sample forms.

Objectives:

  • Understanding that time charges represent a “claim” to the US Government.
  • What happened to a university that did not adhere to the Uniform Guidance.
  • Learning what are the Uniform Guidance's expectations regarding time and effort reporting.
  • What would you do if an organization did not use timekeeping records to support labor cost.
  • Understanding what are the best industry practices regarding grant timekeeping.

Major Topics:

Grant timekeepingWhat the Assistant US Attorney General stated about problematic time reportingMandatory do's and don't's for nonprofit organizationsWhat expectations are not explained in the regulationsUseful timekeeping forms and controls

Major Topics:

Grant timekeepingWhat the Assistant US Attorney General stated about problematic time reportingMandatory do's and don't's for nonprofit organizationsWhat expectations are not explained in the regulationsUseful timekeeping forms and controls

Designed For:

Public Accountants, Consultants, grant administrators, principal investigators/program managers, Awardees of Federal Grants and Cooperative Agreements which include: nonprofits, institutes of higher education, hospitals, Federal, state, local and tribal units of government.

Prerequisties:

None
CPE sponsors

The Florida Institute of Certified Public Accountants (FICPA) 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: NASBARegistry.org