OMB's Higher Procurement Thresholds – Simplified

AssociationTrends

On June 20, 2018, the Office of Management and Budget (OMB) announced updates for procurements made under federal financial assistance awards. Although OMB did not formally amend regulations under the Federal Acquisition Regulation (FAR) or the uniform guidance, it did issue guidance to federal awarding agencies that raised the threshold for micro-purchases for grants and cooperative agreements from $3,500 to $10,000, and increased the threshold for simplified acquisitions to $250,000 for all recipients. These new levels may offer welcome relief for nonfederal entities, particularly research institutions, as they now can prepare to amend their internal policies and procedures to comply with these new thresholds.

This new whitepaper, brought to by by Thompson Grants, will address what this means for grants professionals like you as you try to find simple and practical ways to adjust to these higher thresholds.

In this whitepaper, you will:

  • Find out how these new thresholds came to be
  • Understand how these thresholds related to National Defense Authorization Acts (NDAA)
  • Discover how these thresholds will be implemented
  • Learn what you might have to do to change your organization's own policies and procedures
  • And more!

Looking for additional training on procurement? Download the on-demand recording of Thompson Grants' Workshop,
Procurement Standards for Grantees Boot Camp!

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