Asked by: Higinia Urcunasked in category: General Last Updated: 6th April, 2020
What is the purpose of OMB Circulars?
Accordingly, what is OMB guidance?
In plain English, the Uniform Guidance is simply a set of authoritative rules and regulations about federal grants from the Office of Management and Budget (OMB). This “guidance” is designed to keep everyone in the federal grants community – Congress, grant-making agencies, and applicants – on the same page.
Subsequently, question is, is OMB Circular A 133 still in effect? OMB Makes Sweeping Changes to A-133 Audit Requirements. Eight OMB Circulars, including A-133, have been combined into one “super circular” that takes effect for organizations beginning with December 31, 2015 year-ends.
Beside this, is OMB Circular A 87 still in effect?
The Cost Principles for Nonprofits (OMB Circular A-122, codified at 2 C.F.R. Part 230), State Local and Tribal Governments (OMB Circular A-87, codified at 2. Additionally, the provisions of OMB Circular A-133, Audits of States, Local Governments and Non-Profit Organizations, are superseded by the Supercircular.
What is OMB A 133 audit?
A-133 Audit. Many organizations and government agencies that receive federal funds are required to undergo a Single Audit, also known as an "OMB A-133 Audit" for the regulations set down in Circular A-133 by the U.S. Office of Management and Budget (OMB).