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21WA-3802: OMB Update -- Revised Uniform Guidance 2 CFR 200: Including Performance-Based Payments, Significant Changes to the Procurement Standards and the De Minimis Rate (Webinar)

Date Tuesday, December 28, 2021
Time 9:00am - 10:50am
Central Time
Location Online
CPE credits CPE 2.0
Field(s)
of study
Accounting (Governmental) - Technical (2.0)
Fees
Standard Member Fee $79.00
Standard Nonmember Fee $79.00
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Description

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.

Who should take this program?

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 positi

Major subjects

  • 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

Learning objective(s)

  • 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

Notes:

Course code Code 21WA-3802
Sponsor Business Professionals' Network, Inc.
NASBA ID#: 107810
Level Update
Format Group Internet Based
Prerequisites Prereq. Working with the prior version of the Uniform Guidance
Advance
prep
None
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