OMB’s recent memo eliminating various oversight and reporting requirements deemed to be unnecessary or obsolete will affect management of grants issued by federal agencies in several ways, including the elimination of the Council on Financial Assistance Reform, the CFO Council has said.
That COFAR, consisting of the CFOs of the eight largest grant-making agencies, issued guidance on delivery of financial assistance including the Uniform Guidance that “reduced regulation volume by 75% and focused agency efforts on performance over compliance,” said a comptroller alert. From now on, it said, financial assistance priorities will be coordinated by the CFO Council working with Office of Federal Financial Management, oversight entities, and the non-federal community of interest–while “future groups may be formed around certain topics as necessary.”
Further, under OMB Memo M-17-26 agencies are no longer required to report on the impact of the Uniform Guidance, it said. Also, agencies are no longer required to prepare for an expanded Catalog of Federal Domestic Assistance numbering schematic; however, OMB is to consider future changes to the CFDA following the implementation of a separate memo for a comprehensive plan for reforming the federal government and reducing the federal civilian workforce.