With 40% of funds spent on compliance, OMB aims to give grantees some relief
Title 2 of the Code of Federal Regulations is getting its first comprehensive update in seven years.
What’s Title 2 of the CFR and why should you care? Well there are 700 billion reasons to care — this is the part of the CFR that tells agencies how to hand out more than $700 billion a year in funding to state, local, non-profit and academia communities. That’s right, it’s the regulations that govern grant making.
Victoria Collin, the chief of the management controls and assistance branch in the Office of Federal Financial Management at the Office of Management and Budget, said the administration hopes to accomplish three main goals and three policy objectives with the new grant regulations. In this article Federal News Network reviews the 3 main goals and how data from OMB and respondents in REI Systems’ Grants Management Survey, sponsored by NGMA and George Washington University, has lead to the development of these goals. This will be the first time OMB has given guidance to agencies on how best to design their programs that focus on outcomes and not outputs.Read the Full Article Online