1. Review the organization, applicability, and implementation timeline of the new circular.
2. Discuss the requirements for financial systems.
3. Discuss the regulations on program income, property, and procurement.
4. Discuss the requirements for reporting and records retention.
5. Review the basics of allowable costs.
6. Discuss direct and indirect costs.
7. Review the options for cost allocation in the new circular.
After an introduction and discussion of the laws and regulations, there will be a discussion of the general provisions and administrative requirements. We’ll focus on these key areas:
- Applicability of and implementation dates for the new regulations
- Standards for financial management systems and internal controls
- Property and equipment
- Program income
- Budget revisions
- Requirements for pass-through agencies
- Reporting and record retention requirements