Federal grants and cooperative agreements are high risk agreements because they involve mandatory time and effort reporting. We will discuss what is involved with
timekeeping for Federal awards. Specifically, what are the rules prescribed by the Uniform Guidance 2 CFR 200. We will identify a hidden minefield of labor costs based on time reports as they become a part of a “claim” to the US Government. An actual “war story” will back up our assertion. Our presentation includes a practical interpretation of the regulations, best practices and sample forms.
DESIGNED FOR
Public Accountants, Consultants, grant administrators, principal investigators/program managers, Awardees of Federal Grants and Cooperative Agreements which include: nonprofits, institutes of higher education, hospitals, Federal, state, local and tribal units of government.
BENEFITS
- Understanding that time charges represent a “claim” to the US Government.
- What happened to a university that did not adhere to the Uniform Guidance.
- Learning what are the Uniform Guidance's expectations regarding time and effort reporting.
- What would you do if an organization did not use timekeeping records to support labor cost.
- Understanding what are the best industry practices regarding grant timekeeping.
HIGHLIGHTS
- Grant timekeeping
- What the Assistant US Attorney General stated about problematic time reporting
- Mandatory do's and don't's for nonprofit organizations
- What expectations are not explained in the regulations
- Useful timekeeping forms and controls
COURSE LEVEL
Basic
ADDITIONAL NOTES
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