Grants have changed in the past decade and grant budgets have been a large part of that change. The Office of Management and Budgets (OMB) has worked with grantmaking agencies and the grantee community in the development of governmentwide policy to assure that grants are managed properly and that Federal dollars are managed in accordance with applicable laws and regulations. OMB significantly reformed Federal grant-making by streamlining 8 Federal regulations into a single, comprehensive policy guide.
This reform impacts the public sector and nonprofit sector and it reaches much further than previous grant management and budget requirements. What do we mean by ‘reaching further’? The new requirements include subgrantee / subaward budgets – meaning that many nonprofits that were previously not impacted by the federal cost principles are now aligning their budgets and reporting processes to the federal standards.
Big changes, indeed!
This week we will look to the Grantchat community to hear about their experience and their questions concerning budgets in the 21st century.
Q1: What is your biggest challenge in developing budgets? #grantchat
Q2: How have budgets changed during your grant career? #grantchat
Q3: What technology helps you build a solid grant budget? #grantchat
Q4: How have funders changed the make-up of your grant budgets? #grantchat
Q5: Has #FFATTA and/or #Dataact impacted your budgets and internal policies/processes? #grantchat
Q6: Have you seen a change in covering overhead costs? If so, explain. #grantchat
Q7: Have you seen a change managing direct costs? If so, explain. #grantchat
Q8: Who do you work with when developing your grant budget? #grantchat
Q9: How has your grant budget team changed in recent years? #grantchat
Q10: What changes do you think we will see in the next few years with grant budgets? #grantchat
Join our Grantchat Facebook Group to get the check in question and to keep the discussion going!
Host: Jo Miller, GPC (@jm_grants).