OMB has issued administrative relief for those who receive federal financial assistance that is DIRECTLY RELATED to COVID-19. The GAQC has provided clarifying guidance on who the relief is directed to. We expect additional guidance for a broader subset of nonfederal entities due to operational issues in the near future. Universities are also impacted significantly by COVID-19 due to instructional disruption. The Department of ED has also provided guidance on the impact on student financial assistance. This blog reviews the major impacts of this OMB alert.
The Office of Management and Budget (OMB) has proposed changes to the Uniform Guidance (2 CFR, Part 200). The proposal takes into consideration the President’s Management Agenda, alignment with statutory requirements and clarifications. OMB is required to update the Uniform Guidance every five years. Comments are due by March 23, 2020 and must be submitted electronically to www.regulations.gov.