Annual Update on the 2024 Revised Uniform Guidance and Time and Effort Reporting
Online
2.00 Credits
Member Price $89.00
Non-Member Price $119.00
Overview
The Uniform Guidance (2 CFR 200) pertains to the management of Federal Financial Assistance for grants and cooperative agreements. The Biden Administration has performed a comprehensive update where the revised Uniform Guidance was released in April 2024. We will review all of the significant compliance and threshold changes. In addition, we will provide a brief presentation of the revised guidance as it pertains to Time and Effort reporting.
Objectives
- Review the specific changes to the citation language pertaining to the definitions
- Disclose the updated and increased threshold amounts
- Understand impactful changes to the post award requirements and cost principles
- Provide an update on crucial time and effort reporting
Highlights
- The definitions in 2 CFR 200.1 are the building blocks of the regulation and so we will provide you the impactful revisions to the citation language
- This session will provide you the precise wording changes, showing parts that were changed or new requirements that were added
- We will discuss universal wording changes as well as the effective date for implementation
- We will discuss impactful changes and how it will affect compliance
- The session will cover a new requirement for whistle blower protection
- We will discuss a unique insight of how time reporting is a claim and how claims can have detrimental consequences if not aware
- What should an organization do if they did not keep time records for a grant
- A "war" story when a university did not take the time reporting requirements seriously
Designed For
Public accountants performing Single audits; consultants helping clients that have grants and cooperative agreements; nonprofits; institutes of higher education; state, local and tribal units of government; grant administrators; legal; accounting personne
Prerequisites
A basic familiarity with the Uniform Guidance regulation
Preparation
None
Notice
Your webinar can be accessed via https://ctcpas.acpen.com/. If you do not have an ACPEN account, please sign up for an account using the email address you have on file with CTCPA.
Leader(s):
Leader Bios
Paul Calabrese, GRF CPAs & Advisors
Paul H. Calabrese Principal, Outsourced Accounting & Advisory Services GRF CPAs and Advisors
As a Principal in the firm’s Outsourced Accounting & Advisory Services group, Mr. Calabrese brings a successful track record of working with both government contractors and nonprofit organizations. His remarkable career includes positions with the Air Force Audit Agency, Defense Contract Audit Agency (DCAA), and three government contractors, in addition to 25+ years in public accounting. Mr. Calabrese’s extensive experience with the Cost Accounting Standards (CAS) and CAS disclosure statements, Federal Acquisition Regulation Cost Principals (FAR), and the Uniform Guidance for federal grants, positions him as a sought-after resource and consultant for all facets of federal government contract and grant cost accounting.
Mr. Calabrese has prepared over 40 incurred cost submissions for DOD and USAID. He has also provided indirect rate development, advance agreements, forward pricing reviews, fixed price, T&M and CPFF/CPAF/CPIF cost proposals, defective pricing, billing systems, contract close-outs, compensation, contract brief preparation, voucher reviews, provisional billing rates, SF 1408 audits and prep, and preparation and reviews of DOD business systems for Accounting, Estimating, and Contractor Purchasing System Reviews. His experience also includes interfacing with DCAA and USAID with respect to audit resolution of questioned cost and findings. Paul has worked with law firms and litigation support on contract Request for Equitable Adjustments, Termination for Convenience, and Delay Claims on the Quantum portion of the Settlement Proposal.
Mr. Calabrese has hands-on experience with the Uniform Guidance for Federal grants recipients including nonprofits, universities, hospitals, and state/local/tribal units of governments. His background and skill set includes grant cost accounting, sub-recipient monitoring, preparation of over 100 indirect rates/NICRA for several Federal agencies, development of policies and procedures, medical management systems invoicing to state Medicaid agencies, and development of a toolkit for unit cost rates for Ryan White HIV AIDS HRSA awards. He has also developed grant and financial statement dashboards and performed outsourced CFO duties, annual budgets, cash flow projections, grant draws, and budget monitoring.
Mr. Calabrese is a prolific speaker on Uniform Guidance topics, making frequent presentations at seminars and conferences for GWSCPA, MACPA, IMA, NGMA as well as video webinars for BPN-ACPEN and webinars for GRF. Topics include indirect cost and rates per the UG, indirect rate development, pre- and post-award standards, overview of the 56 cost principals, time reporting, developing unit cost rates R/W, sub-recipient monitoring, building a nonprofit annual budget, procurement standards, annual budgeting and dashboards, grant budgets and monitoring, and Government Shutdown/Anti-Deficiency Act.
Non-Member Price $119.00
Member Price $89.00