NASA is proposing to revise the NASA Grant & Cooperative Agreement Handbook to clarify that the agency does not pay profit or fee on Federal Financial Assistance awards (i.e., grants and cooperative agreements) to non-profit organizations (RIN 2700-AD79). Continue reading NASA Proposed Rule: Clarification of Profit and Fee on Federal Financial Assistance Awards (RIN 2700-AD79)
By: Bryant Le
On January 30, 2014, the Special Inspector General for Afghanistan Reconstruction (SIGAR) issued its quarterly report to Congress regarding its oversight work and the status of obligations and programs relating to the reconstruction of Afghanistan.
After facilitating performance and financial audits over the reporting period, SIGAR identified deficiencies in internal controls and noncompliance in several areas. Key findings within the 225-page report include:
- The U.S. Agency for International Development (USAID) has not fully remediated significant issues within Afghan ministries that will receive over $1 billion in direct, government-to-government assistance (see SIGAR report on USAID Direct Assistance).
- SIGAR noted continued concern over contract oversight and monitoring, and specifically concerns around previous progress assessment systems that generated disparate and inconsistent information, undermining the value of the information.
- SIGAR also noted that organizations performed limited risk assessments and had incomplete budget processes, which heightened risk with respect to contract oversight.
- SIGAR performed eight financial audits during the quarter and, as a result, identified more than $10.7 million in questioned costs. SIGAR cited internal control deficiencies and noncompliance issues as the catalyst to the questioned costs, primarily related to: Continue reading SIGAR Issues Quarterly Report to Congress
On December 26, 2013, the Office of Management and Budget (OMB) released its final “Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.”
This guidance is applicable to grants and cooperative agreements and represents a comprehensive consolidation and revision of OMB Circulars currently governing Federal awards to non-Federal entities. The guidance combines A-110 and A-102 into a single set of administrative rules; combines A-21, A-87, and A-122 into a single set of consolidated cost principles with entity-specific appendices describing indirect rate guidance for government, higher education, and nonprofits; revises the language of A-133; and presents all in a single document serving as a “one-stop shop” for financial assistance regulatory requirements.