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BALTIMORE CITY PUBLIC SCHOOLS (CITY SCHOOLS) 506 DEPARTMENT: DEPARTMENT OF GRANTS ADMINISTRATION FINANCE SUBJECT: OMB CIRCULAR A87 COMPLIANCE (RELOCATED TO 2CFR PART 225) FY 2013 (SECOND CERTIFICATION)

How to fill out omb circular a-87 compliance

How to fill out OMB Circular A-87 compliance:

1. Begin by familiarizing yourself with the requirements and guidelines outlined in OMB Circular A-87. This circular provides guidance for determining the allowable costs under federal grants and agreements.
2. Identify the federal grant or agreement that requires OMB Circular A-87 compliance. Ensure that you understand the specific terms and conditions associated with the grant or agreement.
3. Gather the necessary documentation to support your compliance. This may include financial records, timesheets, procurement records, and any other relevant documentation.
4. Review the costs that are incurred under the grant or agreement. Ensure that these costs are allowable according to the guidelines provided in OMB Circular A-87.
5. Allocate costs appropriately. OMB Circular A-87 provides guidance on how costs should be allocated to federal grants and agreements. Follow these guidelines when assigning costs to the appropriate grant or agreement.
6. Prepare supporting documentation for the costs incurred. This may include cost summaries, budget reconciliation, and any other necessary documentation to demonstrate compliance with OMB Circular A-87.
7. Regularly monitor and review your compliance with OMB Circular A-87 throughout the duration of the grant or agreement. Make any necessary adjustments or corrections to ensure ongoing compliance.
8. Maintain proper records and documentation for audit purposes. OMB Circular A-87 compliance may be subject to audit, so it is important to keep accurate and detailed records of your financial transactions and compliance efforts.

Who needs OMB Circular A-87 compliance:

1. Organizations or entities that receive federal grants or enter into agreements with federal agencies may need to comply with OMB Circular A-87.
2. Non-profit organizations, state and local governments, educational institutions, and other entities that receive federal funding are typically required to adhere to the guidelines outlined in OMB Circular A-87.
3. Compliance with OMB Circular A-87 ensures that the costs incurred under federal grants and agreements are reasonable, necessary, and allowable. It helps to ensure proper financial management and accountability for federal funds.

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What is omb circular a-87 compliance?

OMB Circular A-87 compliance refers to the requirements outlined in the Office of Management and Budget Circular A-87 for federal grant recipients to ensure proper allocation of costs.

Who is required to file omb circular a-87 compliance?

Federal grant recipients who receive funding under programs subject to OMB Circular A-87 are required to file compliance.

How to fill out omb circular a-87 compliance?

To fill out OMB Circular A-87 compliance, grant recipients must accurately document and allocate costs in accordance with the guidelines provided in the circular.

What is the purpose of omb circular a-87 compliance?

The purpose of OMB Circular A-87 compliance is to ensure that federal grant funds are used effectively and efficiently by establishing guidelines for the allocation of costs.

What information must be reported on omb circular a-87 compliance?

Information such as cost allocations, documentation of expenses, and compliance with federal regulations must be reported on OMB Circular A-87 compliance.