[CAFR-Contacts-News] FW: Various UG issues - update on FAQs and Compliance Supplement

[HAMILTON Robert W * DAS]

Hello CAFR Contacts,

I just received an email from NASACT that OMB has released the 2017 Compliance Supplement.

https://www.whitehouse.gov/sites/whitehouse.gov/files/omb/circulars/A133/2017/Compliance_Supplement_2017.pdf

Rob

From: CAFR-Contacts-News [mailto:cafr-contacts-news-bounces at listsmart.osl.state.or.us] On Behalf Of HAMILTON Robert W * DAS
Sent: Monday, August 07, 2017 10:50 AM
To: cafr-contacts-news at listsmart.osl.state.or.us
Subject: [CAFR-Contacts-News] Various UG issues - update on FAQs and Compliance Supplement
Importance: High

Good Morning CAFR Contacts,

The National Association for State Auditors, Comptrollers, and Treasurers (NASACT) has provided the following update from Office of Management and Budget (OMB) on Uniform Guidance:


  1.  OMB released the latest round of frequently asked questions (FAQs) late last week.  The FAQs can be found at this link<https://cfo.gov/wp-content/uploads/2017/08/July2017-UniformGuidanceFrequentlyAskedQuestions.pdf>.
  2.  OMB is hopeful that the 2017 Compliance Supplement will be released by the end of this week.  We understand that everything has cleared OMB, it's now just a matter of packaging, posting to the OMB website, and publishing the notice in the Federal Register.

Specifically, there are two new questions related to pass-through entity responsibilities (§200.331), including the timing of performing the risk assessment of subrecipients.

Feel free to contact me with any questions.

Rob

Robert W. Hamilton, CPA
Statewide Accounting and Reporting Services Manager
Chief Financial Office
Department of Administrative Services
Phone:  (503) 373-0299
http://www.oregon.gov/DAS/financial/acctng

Data Classification: Level 1 - Published


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