Circulars
Circulars are instructions or information issued by the Federal Government to its agencies and must be understood and followed when preparing budgets to federal agencies. The following circulars are of primary concern to University of Mary Washington:
OMB Circular A-21 – Cost Principles for Educational Institutions.
This OMB Circular establishes the cost principles for allowability of costs incurred by institutions of higher education under Federally-sponsored agreements. The principles are designed to ensure that the Federal Government bear its fair share of total costs, determined in accordance with generally accepted accounting principles, except where restricted or prohibited by law.
This OMB Circular establishes the administrative standards for grants and cooperative agreements to nongovernmental organizations.
OMB Circular A-133 – Audits of States, Local Governments, and Nonprofit Organizations
This OMB Circular establishes audit requirements for States, Local Governments, Indian Tribes and nonprofit organizations.