1. Review the where to get answers in the circular.
2. Discuss the requirements and regulations.
3. Identify areas for improvement back at the agency.
4. Review the basics of allowable costs.
5. Discuss direct and indirect costs.
6. Review the options for cost allocation in the new circular.
7. Discuss the changes in audit requirements.
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:
• Standards for financial management systems and internal controls
• Procurement, property and equipment
• Reporting and record retention requirements
The cost principles cover the costs that a grant-funded program can charge to federal grant awards. General principles, allowable costs, unallowable costs, and costs that require prior approval will be discussed. We’ll also discuss all changes in regard to cost allocation and selected items of cost. In addition, we'll discuss changes in audit requirements coming with implementation of the new regulations.