BROADCASTS

 

POP QUIZ! Federal Grant Management Compliance

November 9, 2016

POP QUIZ! 
Federal Grant Management Compliance

1.

True or False: The Boys and Girls Club purchased iPads (hand held computing devices) with federal funds that cost less than $5,000. The iPads should be classified as "Supplies" unless they contain high value, sensitive data, in which case they shall be classified as equipment.

  • False: §200.94 Supplies. The iPads would be classified as "Supplies" regardless of the data they contain.  When determining this rule, the COFAR considered both views and determined that the sensitive information on computing devices could more efficiently be protected through guidance specifically on internal controls for sensitive information, rather than through prescriptive requirements for the devices themselves. 

2.

True or False:  Your tribe must provide the highest level of insurance available for real property acquired with federal grant funds?

  • ANSWER: False: § 200.310 Insurance coverage.  The non-Federal entity must, at a minimum, provide the equivalent insurance coverage for real property and equipment acquired or improved with Federal funds as provided to property owned by the non-Federal entity.  Federally-owned property need not be insured unless required by the terms and conditions of the Federal award. 

3.

True or False: There is no universal rule for classifying certain costs as either direct or indirect under every accounting system.

  • ANSWER: True: § 200.412 Classification of costs. There is no universal rule for classifying certain costs as either direct or indirect (F&A) under every accounting system. A cost may be direct with respect to some specific service or function, but indirect with respect to the Federal award or other final cost objective. NAFOA advises that each item of cost incurred for the same purpose be treated consistently in like circumstances to avoid potential double-charging of federal awards.

Learn more about grant management and compliance with the OMB Uniform Guidance during the December 6-8, 2016 Tribal Financial Manager Certification Training.