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COFAR Releases First FAQ on Federal Grants Reform

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Discussion bubbles representing federal grants management guidance reform FAQ released by COFAR The Council on Financial Assistance Reform (COFAR) recently released the first set of FAQ on federal grants reform for the more than $600 billion awarded annually for grants and other types of financial assistance. The FAQ is derived from over 200 questions and comments that were received from grantors, grantees, auditors, and grants management professionals throughout country. Twenty-six Q&A are provided in this first FAQ batch. Additional questions/comments may be sent to cofar@omb.eop.gov.

Here are a few takeaways from the new grants guidance FAQ:

  • Good Housekeeping: The new guidance eliminates about 80 pages of overlapping duplicative and conflicting provisions of guidance that were developed separately over the years.
  • Stronger Oversight: New language requires federal agencies and pass-through entities to review the risk associated with a potential recipient prior to making an award.
  • Clearer Language: In section 200, "should" means recommended or best practices, and is not synonymous with "must."
  • Focus on Internal Controls: The new guidance improves transparency and accountability by making single audit reports available to the public online and encourages federal agencies to take a more cooperative approach to audit resolution that will more conclusively resolve underlying weaknesses in internal controls.

Are you a grant manager who has read over the new grants guidance? What are some of your questions? Write us at info@ecivis.com.

About eCivis

Contact eCivis if you're looking for grants management software to facilitate transparency with grantors and subrecipients, implement approval processes for grant administrators, and stay ahead of audits. eCivis is the nation's leading grants management software solution and the ideal platform for improving grants performance for local governments, tribal governments, institutions of higher learning, health care institutions, and nonprofits.

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