OMB A-133 Compliance Supplement Watch: 50 Days and Counting

May 20, 2011 | By Adrianne Fielding | Post a Comment

Still no FY 2011 Circular A-133 Compliance Supplement from the Office of Management and Budget. But that doesn’t mean there’s nothing interesting going on!  Like a woodchuck after a spring rain, the “social impact bonds” funding option that we discussed a few months ago here has popped back up into view.

According to a Reuters article earlier this week, Massachusetts recently released a request for information (RFI) regarding its potential use of social innovation funding, which requires entities to utilize non-state financing and hit specific performance targets before costs can be recouped from the state.  The RFI solicits feedback from citizens and potential partners about pay for success contracts and social impact bonds to support effective delivery the delivery of government-funded services in areas such as homelessness and corrections.

Responses to the RFI must be submitted to the commonwealth’s Executive Office for Administration and Finance by June 10, and the Reuters article notes that a full RFP is anticipated in late summer.

The Chronicle of Philanthropy recently published one opinion piece in support of and another in opposition to social innovation financing, which President Obama has requested $100 million for in his FY 2012 budget.

The state’s press release about the RFI is here.

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