OMB Extends Uniform Guidance Procurement Rules

The Office of Management and Budget (OMB) issued an addendum to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) on May 17, 2017. The amendment allows non-federal entities an additional year to implement the Uniform Guidance requirements related to procurement. These procurement standards were previously on a delayed implementation timeframe, and this extension allows an additional year. Therefore, the new standards will apply starting with fiscal years beginning on or after Dec. 26, 2017.