The Office of Management and Budget (OMB) released an updated version of the Uniform Guidance in 2024, effective October 1, 2024. This new version applies to any federal award made or amended (including no cost extensions) on or after October 1st for any new funding, non-competing renewals, competing renewals, and supplement awards. Awards effective prior to October 1st will follow the prior version of Uniform Guidance until amended. In addition, the changes in Uniform Guidance are only effective from the date of which an award is made or amended and are not retroactive.
Below are some highlighted changes in the new Uniform Guidance and associated timelines for implementation:
2024 Uniform Guidance Topics | Highlights of Changes | Implementation Timeline at IU |
De minimus rate | Increased to allow "up to 15%" |
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Participant Support Costs | Can now be added without prior approval |
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Terminal Pay | No longer allowable as a direct charge |
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Required Use of Indirect Cost Rate | A Pass Through Entity (PTE) is required to award a subrecipient's federally negotiated rate agreement |
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Subawards | Indirect costs to be charged on the first $50,000 |
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Equipment Capitalization | Threshold increased to $10,000 |
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Please contact iuprop@iu.edu with any questions.