CPAs and Advisors with Your Growth in Mind

Recent Office of Management and Budget Actions

The following summary outlines recent actions taken by the Office of Management and Budget (“OMB”): Memorandum M-17-26, Reducing Burden for Federal Agencies by Rescinding and Modifying OMB Memoranda . Last month, the OMB issued a memorandum which marked the dissolution of the Council on Financial Assistance Reform (“COFAR”). The memorandum also eliminates several grants management-related requirements. Change in reporting metrics. The OMB announced that federal agencies no longer have to report the metrics assessing the impact of the Uniform Guidance, as ordered by OMB Memorandum M-14-17, Metrics for Uniform Guidance. Catalog of Federal Domestic Assistance (“CFDA”) expansion. The OMB has postponed its proposed expansion of the CFDA numbering schematic. Future changes. Read More.

Topics: , , ,