Major Changes in Federal Award Compliance
Managing federal grants is a major responsibility for nonprofit organizations. Under the latest 2 CFR Part 200 (Uniform Guidance) revisions, federal award thresholds have shifted, introducing both opportunities and compliance obligations for charity and grant-making boards.
The Single Audit Compliance Checklist
- SEFA Preparation: Compile your Schedule of Expenditures of Federal Awards accurately, ensuring all grant codes match current federal registries.
- Subrecipient Monitoring: If your organization passes funds to local sub-grantees, you must actively audit and monitor their compliance logs.
- Allowable Cost Documentation: Keep detailed timesheets and cost-allocation worksheets to substantiate every dollar spent under the award program.
Implementing these controls protects your nonprofit's funding eligibility and maintains absolute donor trust.