Post Federal Awarded Requirements and Cost Principles: Uniform Guidance Subpart D & E is brought to you by Lorman
Gain a better understanding of the basics of the federal award management expectations defined in the Uniform Guidance, 2 CFR 200.
Many organizations are recipients of federally funded grants, grants made to accomplish public purposes that benefit society. When accepting grants we agree to manage those funds consistent with federal requirements. This topic will provide a high-level overview of the basics of the federal award management expectations defined in the Uniform Guidance, 2 CFR 200. As part of the topic you will receive a printable copy of 2 CFR 200 for reference. This information will benefit leadership professionals and officers responsible for organizational operations and compliance, individuals directly responsible for project management, and financial management and accounting staff responsible for award expenditure approval and financial reporting. Failing to understand and comply with federal award terms and conditions can have serious repercussions, which can include repayment of funds, the potential for civil and criminal penalties and treble damages. Understanding 2 CFR 200’s award management requirements is critical to ensuring responsible management of organizational funds and the organization’s reputation.