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financial-assistance

Financial Assistance

The Financial Assistance Priority Area focuses on maximizing the value of grant funding by applying a risk-based, data-driven framework that balances compliance requirements with demonstrating successful results for the American taxpayer.

Goal Statement

Maximize the value of grant funding by applying a risk-based, data-driven framework that balances compliance requirements with demonstrating successful results for the American taxpayer.

Challenges

The Federal government uses grants to invest approximately $700 billion each year in mission-critical needs for American taxpayers, but managers report spending 40% of their time using antiquated processes to monitor compliance instead of analyzing data to improve results.

Opportunities

Standardize the grants management business process and identify, open, standardize, and link data. Use standard business processes and data to establish a robust marketplace of modern solutions that ease burden and drive efficiencies, respond to customer needs, and deliver on mission. Leverage data, including data produced by annual audits, to assess and manage recipient risk. Hold recipients accountable for good performance practices that support achievement of program goals and objectives and streamline burdensome compliance requirements for those that demonstrate results.

The Financial Assistance Priority Area strategic approach is featured below:

The Grants Priority Area strategic approach features the following 4 strategies. These strategies build on one another. Strategy 1: Operationalize the Grants Management Standards -- Operationalize and maintain the GM standards to streamline recipient reporting, increase transparency, support the development of future and shared solutions, and implement the GREAT Act. Strategy 2: Establish a Robust Marketplace of Modern Solutions -- Use standard business process and data to establish a robust marketplace of modern solutions that ease burden and drive efficiencies, respond to customer needs, and deliver on mission.Strategy 3: Manage Risk -- Leverage data, including data produced by annual audits, to assess and manage recipient risk. Strategy 4: Achieve Program Goals and Objectives -- Hold recipients accountable for good performance practices that supports achievement of program goals and objectives and streamline burdensome compliance requirements for those that demonstrate results. Enlarge
The Grants Priority Area strategic approach features the following 4 strategies. These strategies build on one another. Strategy 1: Operationalize the Grants Management Standards -- Operationalize and maintain the GM standards to streamline recipient reporting, increase transparency, support the development of future and shared solutions, and implement the GREAT Act. Strategy 2: Establish a Robust Marketplace of Modern Solutions -- Use standard business process and data to establish a robust marketplace of modern solutions that ease burden and drive efficiencies, respond to customer needs, and deliver on mission.Strategy 3: Manage Risk -- Leverage data, including data produced by annual audits, to assess and manage recipient risk. Strategy 4: Achieve Program Goals and Objectives -- Hold recipients accountable for good performance practices that supports achievement of program goals and objectives and streamline burdensome compliance requirements for those that demonstrate results.

Below is the Executive Steering Committee organizational structure for the Financial Assistance Priority Area:

Hierarchy Row 1 (from top): Chief Financial Officers Council (CFOC) Hierarchy Row 2: Executive Steering Committee (ESC) OMB, HHS, DOL, NSF & the co-chairs from the Financial Assistance Committee for E-Government Stakeholder Outreach Hierarchy Row 3: Operationalize the Grants Management Standards ESC Lead: Dale Bell, NSF Grants Management Business Process and Data Standards Governance Group Establish a Robust Marketplace of Modern Solutions ESC Lead: Sheila Conley, HHS Single Audit and Risk Management Solution Working Group Quality Service Management Organization (QSMO) Governance Management Risk ESC Lead: Laura Watson, DOLRisk Management Working GroupCompliance Supplement teams Achieve Program Goals & Objectives ESC Lead: Robin Funston, DOJ Performance Management Working Group Enlarge
Hierarchy Row 1 (from top): Chief Financial Officers Council (CFOC) Hierarchy Row 2: Executive Steering Committee (ESC) OMB, HHS, DOL, NSF & the co-chairs from the Financial Assistance Committee for E-Government Stakeholder Outreach Hierarchy Row 3: Operationalize the Grants Management Standards ESC Lead: Dale Bell, NSF Grants Management Business Process and Data Standards Governance Group Establish a Robust Marketplace of Modern Solutions ESC Lead: Sheila Conley, HHS Single Audit and Risk Management Solution Working Group Quality Service Management Organization (QSMO) Governance Management Risk ESC Lead: Laura Watson, DOLRisk Management Working GroupCompliance Supplement teams Achieve Program Goals & Objectives ESC Lead: Robin Funston, DOJ Performance Management Working Group

The Executive Steering Committee membership for the Financial Assistance Priority Area includes:

  • Office of Management and Budget
  • Department of Health and Human Services
  • National Science Foundation
  • Department of Justice
  • Department of Labor
  • Federal Assistance Committee for E-Government Co-Chairs

03/07/2017

Controller Alert: Reducing Burden For Federal Agencies By Rescinding Grants Management Related Requirements

The purpose of this Controller Alert is to provide additional details and updates regarding the grants management related requirements that were rescinded in M-17-26.

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07/05/2016

July 2016: Uniform Guidance: Promising Practices in Implementation

Opening Remarks Dave Mader, Controller, OMB Rhea Hubbard, Policy Analyst, OMB Gil Tran, Policy Analyst, OMB Promising Practices in Implementation; Risk Assessment (Panel 1) Andrea Brandon, Director, Financial Assistance Policy and Oversight, Department of Homeland Security and COFAR Co-Chair Phil Maestri, Director, Risk Management Service, U.S. Department of Education Moderator; Rhea Hubbard, Policy Analyst, OMB. Continued

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12/01/2014

2 C.F.R 200: UNIFORM GUIDANCE

OMB together with Federal awarding agencies is issuing a joint interim final rule to implement the new guidance at 2 C.F.R. 200 titled Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).

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