OMB Proposes a 21st Century Federal Grants Regulatory Structure

On February 1, 2013, OMB published a proposal to consolidate eight existing OMB circulars, establishing uniform standards for administrative requirements, cost principles, and audit requirements for all grants and cooperative agreements. While OMB's primary focus appears to be on consolidating existing federal financial participation regulations, OMB also included a "cross-walk" to the current Circular A-110 identifying the proposed policy changes and updates if the proposal were adopted.