New Procurement Rules Clarified By OMB

On June 20, 2018, the Office of Management and Budget (OMB) implementing statutory changes to the micro-purchase and the simplified acquisition thresholds for financial assistance.These changes were authorized by the National Defense Authorization Act (NDAA) for FY 2018, Pub. L. No. 115-91, which became law on December 12, 2017. Federal grant recipients need to be aware of these changes and may need to update their procurement rules accordingly.This memorandum from OMB clarified several points regarding the new procurement rules as part of the implementation of 2 CFR Part 200-also known as the "Uniform Guidance."And though you will not see these changes in 2 CFR Part 200 quite yet, OMB does intend to revise the Uniform Guidance to conform with the law.Here are some of the key points: Changes to the Five … [Read More...]