Updated Uniform Guidance FAQs
OMB, via the Chief Finance Officers Council, has recently issued an updated list of Uniform Guidance (UG) FAQs and a copy of it is now published on the Grant Guidelines & Procedures page of the F&M website. There are several new/updated FAQs that are pertinent to State of Vermont agencies and departments such as Software Capitalization, Advance vs. Reimbursement payments, Verifying Subrecipient Single Audits and numerous FAQs pertaining to Indirect Costs. There is also a FAQ pertaining to the timing of Risk Assessments. Please keep in mind that although the UG does not require risk assessments to occur pre-award, Bulletin 5 does require pre-award risk assessments and the FAQ also acknowledges that pre-award risk assessments are a best-practice, even if it does not mandate that timing. I encourage you to review this document as soon as possible since it contains a lot of very helpful guidance.
Please contact Karen Jaquish at firstname.lastname@example.org if you have any questions.