The General Accounting Office (GAO) has identified proposed revisions to the 2 CFR that may have an impact on state agencies that receive Federal financial assistance. The Uniform Guidance became effective on December 26, 2014 and must be reviewed every five years in accordance with 2 CFR 200.109. The revisions focus on supporting the implementation of the President’s Management Agenda Results-Oriented Accountability for Grants CAP Goal, meeting statutory requirements to align with other authoritative source requirements and clarifying existing requirements.

The summary is posted on the GAO website under Federal/Cost Accounting and can be reached by clicking here.