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NCJRS Abstract

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NCJ Number: 70798 Add to Shopping cart Find in a Library
Title: Financial Management of Federal Aid Programs
Corporate Author: US Executive Office of the President
Office of Management and Budget
United States of America
Date Published: 1980
Page Count: 24
Sponsoring Agency: Superintendent of Documents, GPO
Washington, DC 20402
US Executive Office of the President
Washington, DC 2050O
Sale Source: Superintendent of Documents, GPO
Washington, DC 20402
United States of America
Language: English
Country: United States of America
Annotation: This booklet describes a series of Office of Management and Budget Circulars dealing with the financial aspects of Federal aid programs and is not intended to be a substitute for the Circulars.
Abstract: The summaries cover Circulars that were established in consultation with grantmaking agencies, the General Accounting Office, and affected organizations and groups. Circulars that form a comprehensive system of financial guidance for assistance programs. Circular A-102, 'Uniform Administrative Requirements for Grants-In-Aid to State and Local Governments,' is explained with short definitions of such items as cash depositories, bonding and insurance, matching share, grant payment requirements, property management systems, and audit standards. A description of Circular 74-4, 'Cost Principles Applicable to Grants and Contracts,' examines allowable costs, the composition of cost, the cost allocation plan, and the cognizant agency list. Circular A-73, 'Audit of Federal Operations and Programs,' is examined with regard to determination of audit priorities, cross-servicing arrangements, reliance on nonfederal audits, audit plans, and agency action. Consideration is given to Circular A-88, 'Coordinating Indirect Cost Rates, Audit, and Audit Follow-up at Educational Institutions,' and Circular 73-7, 'Administration of College and University Research Grants.' Discussion of Circular A-110, 'Grants and Agreements with Institutions of Higher Education, Hospitals, and Other Non-Profit Organizations,' touches on such aspects as cash depositories, bonding and insurance, cost sharing and matching, payment requirements, suspension and termination, and procurement standards. Finally, summaries are provided of Circular A-21, 'Cost Principles for Educational Institutions,' and Circular 73-3, 'Cost Sharing on Federal Research.' Sources for further particulars on any of these briefly described Circulars are provided.
Index Term(s): Auditing standards; Federal programs; Financial management; Public information
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