The Office of Management and Budget "Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards" was released in the Federal Register on December 26, 2013 (2 CFR Chapter I, Chapter II, Part 200, et al.). The effective date is December 26th, 2014 for all federal awards or funding increments provided on or after this date and FY2016 for audit. Existing federal awards received prior to December 26, 2014 will continue to be governed by the terms and conditions under which they were awarded.
Procurement Standards Update
Vanderbilt University Medical Center must comply with government procurement regulations as contained in Office of Management and Budget (OMB) A-110, "Uniform Administrative Requirements for Grants and Agreements with Institutions of Higher Education, Hospitals and Other Non-Profit Organizations”, as well as any additional regulations or procedural formalities required by the contracting agency.
Vanderbilt University Medical Center has elected to maintain compliance with the current OMB A-110 Circular cited above until June 30, 2018 before adopting the new Uniform Guidance procurement standards. VUMC will adopt the Uniform Guidance procurement standards in 2 CFR §200.317 - §200.326 effective July 1, 2018.