Changes to Uniform Guidance 2CFR200 (Effective October 1, 2024)

Summary

In response to the implementation of OMB’s October 1, 2024, revision (“2024 Revisions”) to the OMB Guidance for Federal Financial Assistance; Final Rule – Title 2 of the CFR, the Office of Sponsored Programs has compiled a high-level summary of key revisions and their implementation to keep our research community informed and engaged.

Full Description

In response to the implementation of OMB’s October 1, 2024, revision (“2024 Revisions”) to the OMB Guidance for Federal Financial Assistance; Final Rule – Title 2 of the CFR, the Office of Sponsored Programs has compiled a high-level summary of key revisions and their implementation to keep our research community informed and engaged. 

The Final Rule introduces several revisions, including increases to thresholds for equipment/supplies, modified total direct costs (MTDC), de minimis, fixed amount awards, and single audit threshold. The federal agencies are responsible for implementing the guidance by October 1, 2024. As of November 1, some agencies have not yet announced their implementation plans (see the Status of Agency Implementation Matrix below, which will be updated as new information is received). It remains unclear what the repercussions will be if an agency fails to meet the October 1st deadline.

The analysis and guidance provided are based on our current understanding of OMB’s implementation. However, there is still some uncertainty as to how individual agencies will apply the guidance. As such, these recommendations should be taken with that uncertainty in mind. We are aware of outstanding issues and will continue to review and update this guide, as necessary. If major changes occur, we will promptly inform our research community. Please see link for additional information uniform-guidance-2cfr200.