Updated F&A Implementation

Mon, 04 Mar 2019 12:01:34 -0500

Per 2 CFR 200 (Appendix III C.7) the negotiated rate in effect at the time of the initial award must be used through the life of the Federal award. The F&A implementation memo has been updated to clarify this Uniform Guidance requirement.

So what does that mean for multi-year proposal budgets and existing awards?

* There is no need to include award F&A budget escalations for out years on multi-year proposals. Use the F&A rate in effect for all years of the budget.

* OCGA will inactivate previously created projects to account for the escalation change. Inactivation of these projects will begin next week and the individual departments notified once the project has been inactivated.

* Revised budgets for existing awards will not be needed.

The revised, full F&A implementation memo can be found on Cost Accounting's site: https://financialservices.umbc.edu/1226-2/

Please contact your assigned OCGA grant accountant if there are any questions.