What Is The Super Circular?

The Office of Management and Budget (OMB) has issued the long-awaited final rule to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. This rule, more commonly known as the “Super Circular,” streamlines eight federal regulations (including OMB Circulars A-110, A-122, and A-133) into a single, comprehensive policy guide and affords the […]

The Office of Management and Budget (OMB) has issued the long-awaited final rule to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. This rule, more commonly known as the “Super Circular,” streamlines eight federal regulations (including OMB Circulars A-110, A-122, and A-133) into a single, comprehensive policy guide and affords the Federal government the ability to better administer the $600 billion awarded annually for grants, cooperative agreements, and other types of financial assistance.
While the Super Circular does not entirely change the eight federal regulations from which it is derived, it does include some noteworthy changes that will have important implications for all nonprofit recipients of, and applicants for, Federal grants and cooperative agreements. This is an important new development for organizations doing business with Federal and State Governments.
This new guidance creates provisions that are designed to standardize the reporting requirements for federal grant recipients. Included in the changes are streamlined cost principle requirements, which represent the broadest changes to these requirements to date. Our firm will be hosting a seminar to address and illuminate the change in these requirements.