Rural Utilities Service May 2018 – Federal Register Recent Federal Regulation Documents
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Information Collection Activity; Comment Request
In accordance with the Paperwork Reduction Act of 1995, the Rural Utilities Service (RUS) invites comments on this information collection for which RUS intends to request approval from the Office of Management and Budget (OMB).
Policy on Audits of RUS Borrowers and Grantees
The Rural Utilities Service (RUS) is correcting a final rule with request for comment that appeared in the Federal Register on May 7, 2018, and is extending the comment period and delaying the effective date. The document amended regulations regarding its Policy on Audits to incorporate 2011 revisions to the Generally Accepted Government Auditing Standards (GAGAS) issued by the Government Accountability Office (GAO), the clarified audit standards issued by the American Institute of Certified Public Accountants (AICPA) in 2011, and Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, Subpart F, Audit Requirements, issued by the Office of Management and Budget on December 26, 2013, and adopted by USDA on December 26, 2014. The document also expanded and clarified the regulations to: Include grant recipients, amend peer review requirements, amend reporting requirements, expand the options for the electronic filing of audits, and clarify a number of existing audit requirements, and amended the title to reflect this change.
Strategic Economic and Community Development-Reservation of Fiscal Year 2018 Program Funds
Section 6025 of the Agricultural Act of 2014 (2014 Farm Bill) provides the Secretary of Agriculture the authority to give priority to projects that support strategic economic development or community development plans. The Agency has the authority to reserve funds for those programs (referred to as the ``underlying programs'') included in Strategic Economic and Community Development (SECD), for projects that support multijurisdictional strategic economic and community development plans. This Notice supersedes the SECD fiscal year 2016 (FY) notice that published on March 17, 2016 and identifies that for FY 2018 the Agency will utilize priority points under the SECD provisions, as opposed to set-aside funding.
Policy on Audits of RUS Borrowers and Grantees
The Rural Utilities Service (RUS) is amending its regulations regarding its Policy on Audits to incorporate 2011 revisions to the Generally Accepted Government Auditing Standards (GAGAS) issued by the Government Accountability Office (GAO), the clarified audit standards issued by the American Institute of Certified Public Accountants (AICPA) in 2011, and Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, Subpart F, Audit Requirements, issued by the Office of Management and Budget on December 26, 2013, and adopted by USDA on December 26, 2014. RUS is also expanding and clarifying its regulations to: include grant recipients, amend its peer review requirements, amend its reporting requirements, expand the options for the electronic filing of audits, and clarify a number of existing audit requirements, and is amending the title to reflect this change.
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