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As stated in the guidance, OMB revised Parts 25 (Unique Entity Identifier & System for Award Management), 170 (Reporting Subaward & Executive Compensation Information), and 175 (Award Term for Trafficking in Persons) to ensure its guidance properly aligns with underlying statutes, as amended. Let’s examine each one.
OMB developed a comprehensive guide for the Federal government’s Administrative Requirements, Cost Principles, and Audit Requirements for federal awards that became effective in 2014. Clarification of allowable costs associated with data and evaluation. Raising the level of single audit requirements from $750,000 to $1,000,000.
Each grant-making agency is charged with ensuring its awards use the data standards for future information collection requests. Call me cynical, but I doubt any of this will make much of any difference in the real-world grant award process. What does other factors mean?
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