In December 2013, the Office of Management and Budget (OMB) issued the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (known to many as the “Super Circular” or the new Uniform Grant Guidance) to streamline and consolidate grants guidance previously contained in numerous documents. These changes will impact all entities receiving and administering federal awards, as well as auditors responsible for auditing federal awards programs. The Super Circular contains the most significant changes to occur to federal grants administration in recent history.
This paper provides an overview of the requirements of the Uniform Guidance (UG) as applicable to a typical nonprofit affordable housing developer and related organizations. It also addresses questions raised by the Strength Matters CFO Working Group pertaining to practical implementation issues.
