Cost Principles, Reporting Requirements … and the “Supercircular”
The Supercircular: OMB’s Final Guidance on Federal Grants
On December 26, 2013, the U.S. Office of Management and Budget issued new reporting rules referred to as the “Supercircular.” This issuance impacts all general requirements for all entities – including counties and CBOs – which receive federal grants: administrative rules, cost principles and Single Audit requirements. Those new rules go into effect after Christmas, 2014. All persons and agencies who deal with federal grants will need to be aware of and prepared for the coming changes. In addition to the specifics of the Supercircular, the class will cover:
- Administrative rules: when approval is needed for budget changes, and more
- Cost principles: criteria for allowability, and more
- Single Audit requirements: required attributes of an audit finding and more
Course eligible for CPE credits for Certified Public Accountants.
Instructor: Sefton Boyars, CPA, CGFM, CFS from the California Certified Public Accountants (CalCPA) Education Foundation.