Office of Management and Budget Extends Uniform Guidance Procurement Grace Period

On May 17, 2017, the Office of Management and Budget (OMB) issued an amendment to the Uniform Guidance whereby the grace period for implementing the procurement standard changes has been extended by another year. The procurement standards are one of the more significant changes to come from the Uniform Guidance, introducing more defined policies and standards for procuring goods and services. Many nonprofit entities have struggled to implement the changes, which now include items such as required quotes, price analysis, and new documentation standards, among the other requirements. The extension is aimed at allowing additional time for training, understanding, and implementation of the standards.

A link to the federal register including the extension can be found here:

Federal Register

For entities choosing to delay implementation, the new Uniform Guidance procurement standards are now required to be followed starting for fiscal years beginning on or after December 26, 2017.  Entities are still required to document their decision to use the procurement standards provided under the previous OMB guidance during the extension period. The OMB has also indicated that this will be the final delay of the procurement standards.

If you have any questions regarding this extension, the Uniform Guidance, or the applicability of it to your organization, please contact Jim Shellenberger, Principal, at jshellenberger@macpas.com

Jim Shellenberger, CPA

Jim Shellenberger, CPA

Jim Shellenberger is a Principal and a key leader in McKonly & Asbury’s Audit Segment, he leads many of the firm’s core audit and attest engagements, serving clients in a variety of industries, primarily focused on Not-For-Profit and Affordable Housing organizations. As a member of the Pennsylvania Institute of Certified Public Accountants, Mr. Shellenberger serves on the statewide nonprofit committee.

If you have any questions or would like to speak to someone about our services, please email Jim Shellenberger at jshellenberger@macpas.com.

Jim Shellenberger, CPA

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