Treasury, HAF Financial Assistance 101
Summary
A Treasury Office of Capital Access slide deck, "Federal Financial Assistance Awards 101," on how federal grants work. It traces award policy to the Federal Grant and Cooperative Agreement Act (1977), which distinguished between contracts, cooperative agreements and grants. The deck also describes the Office of Management and Budget's role in implementing the laws through OMB memoranda and the Uniform Guidance (2 CFR Part 200), which aims to reduce the administrative burden on award recipients. The deck outlines the typical award management lifecycle and post-award requirements, including reporting, audit and closeout, and treats "grant" as covering all types of Federal financial assistance awards. Its sources are Grants.gov pages.
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“Treasury, HAF Financial Assistance 101.”
Original at home.treasury.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/treasury-haf-financial-assistance-101-7ac6793c5d/
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OFFICE OF CAPITAL ACCESS
Federal Financial Assistance Awards 101
Objectives
Gain a high-level understanding of:
• Brief history of Federal awards
• The typical Federal award management lifecycle
• Federal statutes and the Uniform Guidance (2 CFR Part 200)
• Post-award requirements
2
What are Federal awards?
Redistribution of Federal resources
Fund critical initiatives to accomplish a
public purpose
There are different types of Federal
financial assistance awards
Source: Grants.Gov Grant Terminology
3
Federal Awarding Agencies: A Brief History
Federal Grant and Cooperative Agreement Act (1977) set out to guide
government agencies in their use of Federal funds – particularly by
distinguishing between contracts, cooperative agreements, and grants.
Congress passed subsequent financial assistance-related legislation to
further develop Federal award policy and the Office of Management
and Budget (OMB) helps to implement the Federal laws and executive
orders through OMB memoranda, the Uniform Guidance regulation,
and other Federal regulations.
Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (2 CFR Part 200) aim to reduce the
administrative burden on award recipients.
Federal awarding agencies create internal and external policies and
procedures based on the OMB memos, Uniform Guidance, and other
Federal financial assistance regulations.
Examples of Federal agencies that make awards
Source: Grants.Gov
4
*
How Federal Grant Policies Are Made
* In the context of this presentation the term “grant” is inclusive of all types of Federal financial assistance awards
Source: Grants.Gov Grant Policies
5
The OMB and the Uniform Guidance
• OMB is responsible for developing policy for Federal awards,
managing the Federal budget, and implementing laws passed by
Congress
• OMB established the Uniform Guidance in 2013, the full title is the
Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards and is located at Title 2 of the
Code of Federal Regulations (CFR) Part 200
• The purpose of the Uniform Guidance is to provide a government-
wide framework for Federal award management that is an
authoritative regulation on the and requirements for Federal awards
Source: Grants.Gov
6
Key Federal Statutes
• Single Audit Act Amendments of 1996 (Single Audit Act) , Pub. L.
No. 104-156 and codified at 31 U.S.C. § 7501 et seq. sets forth
standards for single audits of non-Federal entities expending
Federal Awards.
• Federal Funding Accountability and Transparency Act (2006), Pub.
L. No. 109-282 required information about Federal awards to be
posted on a single, searchable website that is open for public
access.
• Digital Accountability and Transparency Act of 2014 (DATA Act),
Pub. L. No. 113-101 improved the quality and transparency of the
Federal Government's award data
Source: Grants.Gov
7
Award Lifecycle Phases
Program Administration
Program Oversight
Recipient Oversight
Post-Award Pre-Award Phase
(Financial (Planning,
Management, Application, &
Audit, Report) Review)
Award Phase
(Selection)
Source: Grants Management Federal Integrated Business Framework
8
Post-Award Activities
Reporting Audits Closeout
9
Federal Award Management and Lifecycle: Post-Award
1
2, 3, 4
6
Key
1. Grantor Actions mean Federal agency actions
2. Grant management officer means the Federal staff
responsible for overseeing an award
3. Awardee means recipient
5 4. Grantor agency means Federal awarding agency
5. Grant lifecycle mean award lifecycle
6. Grant means award
Source: Grants.gov Grant Lifecycle
10
Post Award Phase: Reporting
• Awarding agency will monitor expenditures through programmatic
and financial reports to prevent fraud and abuse
• An award management officer and program officer will oversee the
progress of the award and review reports
o Communication is key and can help resolve award questions
• Awards can have different reporting requirements based on the
terms and conditions described in the Notice of Award (NOA)
o Pay close attention to responsibilities of the recipient under an
award You got
this!
Source: Grants.Gov
11
Post Award Phase: Audits
Federal awarding agencies and recipients are audited
• Departments across Federal agencies monitor and analyze activities,
policies, expenditures, and the performance of recipients on their Federal
awards
• Non-Federal entities that expend $750,000 or more in Federal awards
during their fiscal year must conduct a single audit or program-specific
audit, as applicable, for that year and submit the audit report to the
Federal Audit Clearinghouse (FAC)
o Required to send the audit report to the FAC within the earlier of 30
calendar days after recipient of the auditor’s report(s) or 9 months
after the end of the audit period
o The awarding agency follows up on audit findings and ensures any
prescribed corrective action is taken
Source: Grants.Gov
12
Post Award Phase: Closeout
The last step in the award management lifecycle
• Recipients must submit all required reports to the awarding agency
pursuant to 2 CFR §200.344
• Must submit final financial, performance and other reports required
under the award
• Reports must be submitted to the awarding agency within 120
calendar days after the end of the award period of performance
• The awarding agency will review reports to ensure compliance with award
terms and conditions
• The awarding agency will confirm compliance and completion of all
required award work, ensure the award funds were spent for eligible
purposes, and all other applicable tasks were completed until then,
the recipient is still responsible for complying with the terms of the
award
• Closeout can take several months
• Recipients are required to retain award records for five years after all
funds have been expended or returned to Treasury
Source: Grants.Gov
13
Review
• The Federal award management lifecycle consists of 3 phases
1. Pre-Award (Registration, application submission, and
applicant screening) Important grant
2. Award (Award decision and notification)
policies and uniform
3. Post-Award (Implementation, reporting, audit, and
guidance
closeout) requirements for
awarding agencies
and recipients
• 2 CFR Part 200 (Uniform Guidance) governs•Federal Financial
Key legislation and
Assistance awards statutes
Source: Grants.Gov
14
Additional Information
Information regarding Federal awards can be found
at Grants.gov
15
Source: Grants.Gov Learning Center
16
Thank you for listening! Questions?
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