Exciting New Uniform Guidance Changes Ahead
Last week the Office of Management and Budget (OMB) rolled out new changes to the Uniform Guidance (2 CFR 200). We have a robust article in the works, interpreting the changes and what it means for your organization. In the meantime, a few highlights:
- Effective date of October 1, 2024
- Increases single audit threshold from $750,000 to $1 million
- Raises the de-minimis indirect cost rate from 10% to 15% and the equipment level to $10,000
- Updates the definition of Modified Total Direct Costs to include up to the first $50,000 of a subaward
- Changes to procurement standards to increase efficiency and ease administrative burdens
- Standardization of Notices of Funding Opportunities (NOFOs)
- Removes the prior written approval requirements for several items
CLA has a team of people digging into the new changes and we will be rolling out thought leadership to keep you informed. As we do more single audits and provide more grant compliance services than any other firm in the country, we are excited about these changes and the impact they will have on a broad group of our clients. Stay tuned for more in the coming days.
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