Anticipation for the 2016 Compliance Supplement Builds

May 25, 2016 | By Jerry Ashworth | Post a Comment

snails81-300x225Because it’s been so cool and rainy here in the nation’s capital for the last few weeks, one tended to ignore looking at the calendar and simply assume it surely must be early March. But alas, the sun finally broke through yesterday and the temperatures climbed once again to their typical late May glory. And now, with temperatures expected later this week to approach 90 degrees, it now dawns on us that Memorial Day is around the corner, followed by heat of summer. We also realize that this is the time to start asking the annual question that consumes us this time of year — when will the Office of Management and Budget release the 2016 Compliance Supplement?

Long time readers of this blog may be familiar with a tradition that we have continued since we launched this site in 2011. Back then, OMB said it planned to issue the Compliance Supplement by the end of March, yet it still had not seen the light of day as of May 18, which led us to run our first post featuring the snail. As we wait for OMB to issue the Compliance Supplement, we again introduce our friend, the snail.

Although the auditing community has requested that the supplement be released in the early spring, the document traditionally is released closer to the start of summer.

Perhaps last year’s release date of the Compliance Supplement would have surprised no one as it provided information on the OMB’s uniform grant guidance for the first time. It also included two Part 3s. It will be interesting to see what is included in this year’s version, particularly related to internal controls.

There is one deadline that we’ve always kept our eye on. The American Institute of Certified Public Accountants’ annual Not-For-Profit Industry Conference in Washington, D.C. will begin June 27. I have traditionally tended to call this conference the unofficial deadline for OMB to issue the Compliance Supplement. In my many years of covering grants management, it always seemed that OMB would find a way to release the supplement prior to the AICPA’s Not-for-Profit conference so that all the auditors in attendance can discuss it there. Let’s see if the same will happen this year.

If nothing else, our friend the snail would’ve loved the weather we’ve had lately…

What information are you looking forward to in this year’s Compliance Supplement?


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