Super Circular-Risk Assessment and Federal Grant Awards

New grant regulations as outlined in the 2 CFR Part 200 Uniform Guidance (aka – Super Circular) call for federal agencies to establish a framework for the Risk Assessment of its funding recipients. Why? To reduce the risk of waste, fraud, and abuse of taxpayer dollars. Fortunately, the Super Circular provides guidance and tips on what to focus on. So what are the areas of risk?

1. Ability to meet management standards
2. Amount of self-monitoring in place
3. Evaluation of the application for funding opportunity, if applicable
4. Extend of new personnel or changed organizational structure
5. Past history of performance with federal award
6. Previously submitted required reports in a timely and accurate manner
7. Prior compliance with award terms and conditions
8. Quality of the management system
9. Results of audits or program reviews
10. Stability of financial operations