OMB Update - Revised Uniform Guidance 2 CFR 200: Including Performance-Based Payments, Significant Changes to the Procurement Standar

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.

Learning Objectives

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

Major Topics

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

CPE Credits Available

2 CPE

2: Accounting & Auditing

Things to Know About This Course

Course Level

Update

Prerequisites

Working with the prior version of the Uniform Guidance

Advanced Preparation

None

Intended Audience

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 positions might include: Director of Finance, grants administrator, legal, program personnel, principal investigator, auditors, and department heads overseeing Federal grants and cooperative agreements

Provider

ACPEN