Organizations, including not-for-profit entities, receiving federal awards are subject to the new Uniform Guidance. The Uniform Guidance was effective for fiscal years beginning after 12/26/14 and supersedes guidance from previous OMB circulars. Most organizations will be impacted by these changes during their 2015 or 2016 fiscal year. Changes include increasing the threshold for requiring single audits as well changes to many of the compliance requirements. The most significant changes were in the areas of compliance requirements for procurement and subrecipient monitoring. BeachFleischman has created guides to help understand these new procurement and subrecipient monitoring compliance requirements.
If you need help using these guides, please don’t hesitate to reach out. We’d be happy to lend a hand toward your organization’s success.