Post-Award Administration & Grant Closeout Flashcards
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Read the first 7 Post-Award Administration & Grant Closeout flashcards as text
According to 2 CFR 200.332(a), which of the following must a pass-through entity include in every subaward agreement?
Answer: The Federal Award Identification Number (FAIN) and applicable program requirements
Per 2 CFR 200.332(a), subaward agreements must include the Federal Award Identification Number, applicable laws and regulations, and reporting and performance requirements.
What is the key characteristic that distinguishes a subrecipient from a contractor (vendor) in federal grant administration per 2 CFR 200.1?
Answer: A subrecipient carries out a portion of the federal program while a contractor provides goods or services for the recipient's own use
A subrecipient carries out a portion of a federal award's program objectives and bears programmatic responsibility, while a contractor provides commercial products or services that support the recipient's operations.
Before issuing a subaward, a pass-through entity must verify that the potential subrecipient is not suspended or debarred by checking:
Answer: The System for Award Management (SAM.gov) exclusions
Per 2 CFR 200.332(b), pass-through entities must verify subrecipients are not suspended or debarred by checking the exclusions section of SAM.gov before issuing a subaward.
If a subrecipient expends $750,000 or more in federal awards during its fiscal year, it is subject to:
Answer: An annual Single Audit conducted by an independent auditor
Per 2 CFR 200.501, non-federal entities that expend $750,000 or more in federal awards in a fiscal year must have a Single Audit (or program-specific audit) conducted by an independent auditor.
Which of the following BEST describes a 'high-risk' subrecipient designation in federal grant administration?
Answer: A subrecipient requiring enhanced monitoring due to prior findings, weak controls, or poor compliance history
A high-risk designation is applied to subrecipients with prior audit findings, weak internal controls, or a history of non-compliance, requiring enhanced monitoring measures from the pass-through entity.
What is the primary purpose of a subrecipient monitoring plan developed by a pass-through entity?
Answer: To outline how the pass-through entity will ensure subrecipient compliance with federal requirements
A subrecipient monitoring plan documents the pass-through entity's systematic approach to overseeing subrecipient activities and ensuring compliance with all applicable federal award requirements.
When a pass-through entity identifies a non-compliance finding during subrecipient monitoring, it is required to:
Answer: Issue a management decision and ensure the subrecipient takes timely corrective action
Per 2 CFR 200.332(d), pass-through entities must issue management decisions for audit findings pertaining to subawards and ensure that subrecipients take timely and appropriate corrective action.