North Carolina Passes Government-Nonprofits Contracting Reform
Earlier this month, the North Carolina House of Representatives approved a regulatory reform bill that would allow the Joint Legislative Program Evaluation Division to review the obstacles nonprofits face when providing services in accordance with state grants and contracts. The review is the result of research indicating that half of North Carolina nonprofit organizations with government grants and contracts receive late payments from government agencies. That same research also revealed that three-fourths of those nonprofits deal with unnecessary application and reporting requirements.
OMB Proposes Changes to Data Collection Form
The Office of Management and Budget (“OMB”) is currently accepting feedback on proposed changes to the Data Collection Form (DCF) and its instructions. Published in a December 9th Federal Register notice, the proposed changes are necessary due to the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards at 2 CFR 200 (Uniform Guidance). As a result, the new DCF and instructions will be effective for fiscal periods starting on or after December 26, 2014, in line with the Uniform Guidance’s effective date. Please note that any audits performed under OMB Circular A-133, Audits of States, Local Governments, and. Read More.
Performance-Based Budgeting Gaining Interest among States
Eleven states have begun adopting the performance-based budgeting method to distribute budget funds contingent on the measured success of some programs. Known as the “Results First Initiative,” the process calculates a program’s past performance to determine whether a specific budget item is worth the expense. While advocates believe the approach adds accountability and cost-outcome analysis to all state government levels, results so far have been mixed. Since accountability is weighed heavily in the process, success is also measured on compliance by state leaders and agencies when implementing the approach, as well as the projected economic conditions. According to a National. Read More.
GASB to Hold Three-Day Meeting Next Week
Preparing for a three-day meeting next week, the Governmental Accounting Standards Board (“GASB”) has released its Notice of Meetings . Scheduled Wednesday through Friday, August 20th-22nd, GASB’s meeting will begin each day at 8:30 a.m. EST and cover topics like lessor/lessee recognition and measurement matters; fiduciary responsibilities; tax abatement disclosures; recognition issues concerning irrevocable charitable trusts; and the proposed technical plan for the rest of 2014. Cherry Bekaert has a team of professionals ready to serve governmental entities. Visit our Government page for more information.