What is the OMB Circular A-136?
The Office of Management and Budget (OMB), with input from the Chief Financial Officers Council, has updated OMB Circular A-136, Financial Reporting Requirements. This update streamlines reporting requirements where possible and reflects current Federal generally accepted accounting principles. Click to see full answer.
Which OMB Circular is superseded by the supercircular?
Additionally, the provisions of OMB Circular A-133, Audits of States, Local Governments and Non-Profit Organizations, are superseded by the Supercircular. What does 2 CFR stand for?
How many pages is the OMB Circular A-94?
OMB Circular A-94 – Discount Rates to be Used in Evaluating Time-Distributed Costs and Benefits (22 pages, 78 KB) OMB Circular A-131 – Value Engineering
How do I get a copy of an OMB Circular?
Instructions or information issued by OMB to Federal agencies. These are expected to have a continuing effect of two years or more. To obtain circulars that are not available on-line, please call the Office of Management and Budget’s information line at (202) 395-3080.
What is the purpose of an OMB Circular?
Circulars are one of the primary ways OMB provides detailed instructions and information to Federal agencies. Importantly, Circulars standardize implementation guidance for Federal agencies across an array of policy areas and topics that are central to the Federal Government's management and budget processes.
What is OMB 123 Appendix A?
The revised circular can be found on OMB's web page at www.whitehouse.gov/omb. The revised A-123 becomes effective beginning with fiscal year 2006. A-123, Appendix A addresses internal control over financial reporting and is required for the 24 Chief Financial Officer (CFO) Act agencies.
What is OMB Circular No A 130?
The Circular establishes general policy for information governance, acquisitions, records management, open data, workforce, security, and privacy. It also emphasizes the role of both privacy and security in the Federal information life cycle.
What is OMB Circular No A-123?
A-123 defines management's responsibility for internal control in Federal agencies. A re-examination of the existing internal control requirements for Federal agencies was initiated in light of the new internal control requirements for publicly-traded companies contained in the Sarbanes-Oxley Act of 2002.
What does OMB stand for?
The Office of Management and Budget (OMB) serves the President of the United States in overseeing the implementation of his or her vision across the Executive Branch. President's Budget.
What is Fmfia?
The Federal Managers' Financial Integrity Act (FMFIA) requires agencies to establish internal control and financial systems that provide reasonable assurance of achieving the three objectives of internal control, which are: Effectiveness and efficiency of operations; Compliance with regulations and applicable laws; and.
What is OMB Circular A 119?
Revised OMB CircularA-119 establishes policies on Federal use and development of voluntary consensus standards and on conformity assessment activities.
What replaced OMB Circular A 133?
2 CFR part 200, subpart FOn December 26, 2013, OMB Circular A-133 was superseded by the issuance of 2 CFR part 200, subpart F. Among other things, those changes increased the audit threshold to $750,000 for auditee fiscal years beginning on or after December 26, 2014 and made changes to the major program determination process.
What is OMB Circular A 110?
OMB Circular A-110 addressed the Federal Uniform Administrative Requirements for Grants and Agreements With Institutions of Higher Education, Hospitals, and Other Non-Profit Organizations.
What is the annual statement of assurance?
The annual statement of assurance must accurately describe the status of internal controls within their organization, provide required certifications that controls related to financial and nonfinancial reporting are in place and effective, and provide updated material weaknesses (in required format) reported throughout ...
What is Data Act reporting?
The purpose of the DATA Act is to improve the quality and transparency of the Federal Government's award data. Lawmakers have directed the Department of the Treasury (Treasury) and the Office of Management and Budget (OMB) to create government-wide standards for reporting spending data associated with Federal awards.
What are internal controls in a company?
Internal controls are the systems used by an organization to manage risk and diminish the occurrence of fraud. The internal control structure is made up of the control environment, the accounting system, and procedures called control activities.
OMB Circulars in Numerical Sequence
OMB Circular A-1, System of Circulars and Bulletins to Executive Departments and Establishments (08/07/1952)
Budget
OMB Circular A-11 – Preparation, Submission and Execution of the Budget (individual section files)
State and Local Governments
OMB Circular A-16 – Coordination of Geographic Information, and Related Spatial Data Activities
Federal Financial Management Documents
NOTE: Final Guidance has been issued that, upon implementation, will supersede requirements from OMB Circulars A-21, A-87, A-110, and A-122 (which have been placed in 2 C.F.R. Parts 220, 225, 215, and 230); Circulars A-89, A-102, and A-133; and the guidance in Circular A-50 on Single Audit Act follow-up.
OMB Circulars in Numerical Sequence
- OMB Circular A-1, System of Circulars and Bulletins to Executive Departments and Establishments(08/07/1952) OMB Circular A-4, Regulatory Analysis(09/17/2003) (48 pages, 435 KB) OMB Circular A-11, Preparation, Submission and Execution of the Budget (8/6/21) (single file, 1028 pages, 14.1 MB) OMB Circular A-11, Preparation, Submission and Execution o...
Budget
State and Local Governments
- OMB Circular A-16– Coordination of Geographic Information, and Related Spatial Data Activities
- OMB Circular A-87 – Cost Principles for State, Local, and Indian Tribal Governments
- OMB Circular A-97 – Provisions of Specialized and Technical Services to State and Local Governments
- OMB Circular A-16– Coordination of Geographic Information, and Related Spatial Data Activities
- OMB Circular A-87 – Cost Principles for State, Local, and Indian Tribal Governments
- OMB Circular A-97 – Provisions of Specialized and Technical Services to State and Local Governments
- OMB Circular A-102 – Grants and Cooperative Agreements With State and Local Governments (10/07/1994) (further amended 08/29/1997) (10 pages, 43 KB)
Circulars: Educational and Non-Profit Institutions Documents
- OMB Circular A-21 – Cost Principles for Educational Institutions (05/10/2004) (109 pages, 263 kb), Relocated to 2 CFR, Part 220(30 pages, 384 KB)
- OMB Circular A-110 – Uniform Administrative Requirements for Grants and Other Agreements with Institutions of Higher Education, Hospitals and Other Non-Profit Organizations (11/19/1993) (further am...
- OMB Circular A-21 – Cost Principles for Educational Institutions (05/10/2004) (109 pages, 263 kb), Relocated to 2 CFR, Part 220(30 pages, 384 KB)
- OMB Circular A-110 – Uniform Administrative Requirements for Grants and Other Agreements with Institutions of Higher Education, Hospitals and Other Non-Profit Organizations (11/19/1993) (further am...
- OMB Circular A-122 – Cost Principles for Non-Profit Organizations (05/10/2004)(55 pages, 220 KB), Relocated to 2 CFR, Part 230(17 pages, 235 KB)
- OMB Circular A-133 – Audits of States, Local Governments, and Non-Profit Organizations (06/24/1997, includes revisions published in Federal Register06/27/03) (33 pages, 127 KB)
Procurement
- OMB Circular A-76 (May 29, 2003) including changes made by OMB Memorandum M-07-02 (10/31/2006) (4 pages, 51 KB)and a technical correction made by OMB Memorandum M-03-20(08/15/2003)(63 pages, 518 KB)
Federal Financial Management Documents
- NOTE: Final Guidance has been issued that, upon implementation, will supersede requirements from OMB Circulars A-21, A-87, A-110, and A-122 (which have been placed in 2 C.F.R. Parts 220, 225, 215, and 230); Circulars A-89, A-102, and A-133; and the guidance in Circular A-50 on Single Audit Act follow-up. See final guidance and OMB Policy Statementsfor more information. 1. OM…
Federal Information Resources / Data Collection Documents
- OMB Circular A-16– Coordination of Geographic Information, and Related Spatial Data Activities
- OMB Circular A-89– Federal Domestic Assistance Program Information
- OMB Circular A-108– Federal Agency Responsibilities for Review, Reporting, and Publication under the Privacy Act
- OMB Circular A-130– Management of Federal Information Resources (23 pages, 92 kb)
Other Special Purpose