As our government clients strive to optimize the way they manage finances, compliance with Office of Management and Budget (OMB) requirements is critical. When it comes to the Schedule of Expenditures of Federal Awards (SEFA), it’s important to implement procedures that ensure an accurate and complete SEFA.
Failure to comply with grants administration requirements is common but often unintentional. The source of the problem is typically a lack of communication or misunderstanding of compliance requirements. We’ve summarized the list of GFOA best practices for grants administration below.
On March 19, 2021, the Office of Management and Budget issued a memo directing federal agencies to delay, by six months, the deadline for recipient organizations to submit Single Audits. The new deadlines are September 30, 2021 and March 31, 2022.
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