Are You in Compliance with the Omni Circular Requirements for Your Federal Grants?

8:30 am networking and breakfast

As part of an effort to reform and strengthen Federal grant making, the Office of Management and Budget (OMB) published new guidance for the Federal award programs, OMB Uniform Guidance: Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, commonly referred to as the Omni Circular. The new guidance, published on December 26, 2013, was implemented on December 26, 2014.

By streamlining eight Federal regulations into a single, comprehensive policy guide, the government aims to better administer grants by decreasing the administrative burden for recipients and reducing the risk of waste, fraud and abuse. But what are the changes in the rules that affect nonprofits on the ground? Accounting experts will present an overview and parameters of the Omni Circulars, and share practical tips for the nonprofits to become or remain compliant with the new rules.

Presenters: Barry Chait, Esq., Senior Manager, and Brenda DeCosta, CPA, Partner, Marcum Accountants Advisors