White House to Change Rules for Managing Grants
August 1, 2012
The White House will change how the government’s $600 billion grant programs are managed in the coming months, Office of Management and Budget Controller Danny Werfel said this week.
The proposed guidance would change how federal grant recipients are audited, administrative costs and reporting requirements.
Among the changes that OMB is considering:
- Raising the audit threshold for grant recipients to $1 million and performing more focused audits on recipients that receive between $1 million and $3 million in federal grant funds. Currently agencies must audit people and organizations who receive more than $500,000 in federal grants.