OMB Super Circular Webinar Series
November 3, 2014
Grant management education for tribal governments and their enterprises continues to be a key initiative for NAFOA. To help tribes comply with the OMB Super Circular, NAFOA will host a three-part webinar series as a way for our community to gain important knowledge on numerous provisions of the guidance that affect tribal government finance. Join us to learn about the new regulations, and more importantly, how to implement them into your tribe's accounting processes.
With increased pressure on the federal government to make purchasing more accountable, there is a growing importance to have solid purchasing processes in place in tribal governments. This webinar will highlight provisions in the Super Circular, now containing five different selection methods for procurement, including: micro-purchases, small purchase procedures, sealed bids, competitive proposals, andnoncompetitive proposals.
- Methods for procurement, including the new micro-purchase requirement in the Super Circular.
- Required conflict of interest policies that tribal governments must have in place.
The OMB Super Circular: Part 2 - Indirect Cost Rates: Why it Matters to Tribal Governments
- Language in the Super Circular that designates up to 50 percent of salaries and wages for the tribal council will be allowable as indirect costs.
- The option to extend the current negotiated rate for up to four years.
- A review of "current" and "one-time" indirect cost rate extensions.
- The availability of the 10-percent de minimis rate for tribal governments and organizations that have never negotiated a rate.
The OMB Super Circular highlighted the importance of the internal control requirement in meeting the guidance's goal of minimizing fraud, waste, and abuse. This webinar supports tribal governments' ability to manage more effectively and efficiently by developing a plan for monitoring spending and implementing a plan of action for when irregularities occur.
- How sound internal control is an integral part of every aspect of management (responsibilities of tribal leadership, internal auditors, and external auditors).
- How to properly design, maintain, and evaluate your tribe's policies and procedures.
- How fraud can be identified and how identified fraud should be managed.
- Most importantly, the webinar demonstrates why good internal control is essential for accountability and mission accomplishment throughout the tribe.