About this event

OMB Clarifies New Requirements for Managing Federal Funds

Kay Sohl, National Nonprofit Financial Management Trainer, Consultant

Kay Sohl Consulting

Presentation & Continental Breakfast at 7:30
Networking at 9:00

Nonprofits receiving federal funds either directly from federal agencies or through awards from pass-through entities like states, counties, and other nonprofits will enter a brave new world of federal requirements in 2015. Whether you’ve already been tracking the Super Circular (now more commonly called the Uniform Guidance & located at 2 CFR 200), or are just waking up to this new reality, this session will bring you up-to-date on the latest guidance provided in new FAQ’s issued by COFAR, the group charged with helping OMB redesign and communicate requirements that nonprofits must meet.

Hot button updates will include:

• Options for recovering administrative and indirect costs from pass-through entities like states and counties
• Distinctions between contracts & sub-awards & why it matters
• Effective dates & transition strategies
• Conflict of interest
• Should versus must for internal controls
• Requirements for prior approval

Join Kay Sohl, national nonprofit financial management trainer and consultant, for the latest guidance on changes required by the new federal rules and strategies to manage your transition to meeting the new requirements.

This NFMA session will also be video-streamed as part of the OMB Super Circular Webinar Series.

About the Presenter

Kay Sohl has provided financial management training and consultation for over 5,000 nonprofit organizations throughout the country. Kay draws upon her experience as an executive director, consultant, auditor, and Board member to create trainings designed to help nonprofit leaders communicate effectively across the barriers of accounting jargon and financial anxieties. Kay is co-author of the The Oregon Nonprofit Corporation Handbook, Fifth Edition. She founded and led TACS/Nonprofit Association of Oregon through 2011, and currently leads nonprofit fiscal leaders discussion networks nationally and in Oregon.

About the Network

Nonprofit Fiscal Managers Association provides regular learning opportunities so you can stay up to date on nonprofit financial management practices and related legal and compliance issues. You will gain the knowledge, strategies, and systems you need to keep your organization on track.

About the OMB Super Circular Webinar Series

OMB Super Circular Webinar Series offers updated information about major changes in requirements for nonprofits that receive federal funds; both directly from federal agencies and in agreements with state or local governments or with other nonprofits.