FASEB Provides Feedback on Proposed Updates to OMB Guidance for Grants and Agreements

Friday, December 1, 2023
On November 30, FASEB submitted comments to the U.S. Office of Management and Budget (OMB) in response to proposed revisions to 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. FASEB's comments supported OMB's continuous review of these requirements and offered additional revisions for consideration, the most significant being to further increase in the proposed threshold for items considered equipment (Section 313) from $10,000 to $25,000 and explore ways to link future updates to this threshold to a metric of purchasing power and inflation, such as the Consumer Price Index. Comments on Intangible Property (Section 315) expressed support for researchers' freedom to choose where they communicate and share research findings, while those on Publication and Printing Costs (Section 461) recommend clarification of terms to align with industry standards.