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Course Description

Eligibility for federal grants, awards and other monies issued to nonprofit organizations requires these organizations comply with regulations issued by the U.S. Office of Management and Budget (OMB) — specifically OMB Circular A-122 — that provide direction as to the “allow-ability” of costs that can be charged to federal grants. Thus, it is critical that all employees who work on federal grants or handle budgeting and accounting tasks related to federal grants understand and strictly adhere to these regulations.

The Cintas Online Cost Accounting for Federal Grants Training Course summarizes the Circular A-122 guidelines for the allow-ability, administration, accounting and reporting of costs for federal grants and other awards. Content includes quizzes, a matching exercise and real-world compliance issues that employees should learn to recognize and respond to in a manner that protects both them and their organizations. Topics include:

  • Understanding important OMB regulations — an overview
  • Know the basic financial-management principles
  • Know the essential cost-accounting principles
  • “Allow-ability” of costs — what are the parameters?
  • How to apply the "necessary and reasonable" test
  • What is considered to be adequate documentation?
  • Defining the "allocable to the project" requirement
  • Defining the "within the grant period" requirement
  • What are considered “generally allowable costs”?
  • What are considered “generally unallowable costs”?

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