Here is a monthly update of web sites of important news stories, upcoming events or technical pronouncements that impact the not-for-profit sector.
OMB Uniform (“Super”) Circular
Updated Federal Circulars affecting Nonprofits have been consolidated and changed.
- Treasury-OMB has developed a webpage available via link on the OMB website that is a one-stop resource and reference site for important information regarding the newly effective Federal OMB Super Circular (2 CFR Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards). The Super Circular administrative requirements and cost principles are applicable for any new federal awards and existing incrementally funded federal awards where funding is received on or after December 26, 2014. These requirements also apply to any sub-awards made by the State of New Jersey to sub-recipients from new federal awards or incremental funding received on or after December 26, 2014. The Super Circular audit requirements are also applicable to non-federal entity fiscal years beginning on or after December 26, 2014.
- In response to the new federal Super Circular, Treasury-OMB has revised the State's Single Audit Policy. Circular Letter 15-08-OMB was recently issued and replaces CL 04-04-OMB. As stated above it is effective for entity fiscal years beginning on or after December 26, 2014. It raises both the federal and State single audit threshold from $500,000 to $750,000 of expenditures incurred during an entity's fiscal year period. The financial statement audit requirement threshold remains at $100,000 for any entity that does not meet the higher federal or State single audit expenditure threshold. This revised statewide policy document must also be referenced in department and agency sub-recipient grant agreements and contracts.
Please call me to see how this affects your organization
Capacity Building, Development
Ruotolo Associates Inc. a national full-service fundraising and public relations firm for the non-profit world. Clients include schools, libraries, museums and arts/cultural/historic organizations; social service and cause-related organizations; hospitals and medical/health organizations; diocese, churches and religious organizations.
Federal Grant Opportunities
The online Catalog of Federal Domestic Assistance gives you access to a database of all Federal programs available to State and local governments (including the District of Columbia); federally -recognized Indian tribal governments; Territories (and possessions) of the United States; domestic public, quasi-public, and private profit and nonprofit organizations and institutions; specialized groups; and individuals. After you find the program you want, contact the office that administers the program and find out how to apply. Visit www.cfda.gov
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