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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D">Hello CAFR Contacts,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D">I just received an email from NASACT that OMB has released the 2017 Compliance Supplement.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"><a href="https://www.whitehouse.gov/sites/whitehouse.gov/files/omb/circulars/A133/2017/Compliance_Supplement_2017.pdf">https://www.whitehouse.gov/sites/whitehouse.gov/files/omb/circulars/A133/2017/Compliance_Supplement_2017.pdf</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D">Rob<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b>From:</b> CAFR-Contacts-News [mailto:cafr-contacts-news-bounces@listsmart.osl.state.or.us]
<b>On Behalf Of </b>HAMILTON Robert W * DAS<br>
<b>Sent:</b> Monday, August 07, 2017 10:50 AM<br>
<b>To:</b> cafr-contacts-news@listsmart.osl.state.or.us<br>
<b>Subject:</b> [CAFR-Contacts-News] Various UG issues - update on FAQs and Compliance Supplement<br>
<b>Importance:</b> High<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Good Morning CAFR Contacts,</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">The National Association for State Auditors, Comptrollers, and Treasurers (NASACT) has provided the following update from Office of Management and Budget (OMB) on Uniform Guidance:</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<ol style="margin-top:0in" start="1" type="1">
<li class="MsoNormal" style="mso-list:l0 level1 lfo3"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">OMB released the latest round of frequently asked questions (FAQs) late last week. The FAQs can be found at this
<u><span style="color:#2E75B6"><a href="https://cfo.gov/wp-content/uploads/2017/08/July2017-UniformGuidanceFrequentlyAskedQuestions.pdf"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#2E75B6">link</span></a></span></u>.</span><o:p></o:p></li><li class="MsoNormal" style="mso-list:l0 level1 lfo3"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">OMB is hopeful that the 2017 Compliance Supplement will be released by the end of this week. We understand that everything has cleared OMB,
it’s now just a matter of packaging, posting to the OMB website, and publishing the notice in the Federal Register.</span><o:p></o:p></li></ol>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Specifically, there are two new questions related to pass-through entity responsibilities (§200.331), including the timing of performing the risk assessment of subrecipients.
</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Feel free to contact me with any questions.</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Rob</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:8.0pt;font-family:"Verdana",sans-serif;color:#353535">Robert W. Hamilton, CPA</span></b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:8.0pt;font-family:"Verdana",sans-serif;color:#353535">Statewide Accounting and Reporting Services Manager</span></b><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:8.0pt;font-family:"Verdana",sans-serif;color:#353535">Chief Financial Office</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:8.0pt;font-family:"Verdana",sans-serif;color:#353535">Department of Administrative Services</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:8.0pt;font-family:"Verdana",sans-serif">Phone: (503) 373-0299</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:8.0pt;font-family:"Verdana",sans-serif"><a href="http://www.oregon.gov/DAS/financial/acctng"><span style="color:blue">http://www.oregon.gov/DAS/financial/acctng</span></a></span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:8.0pt"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:8.0pt;font-family:"Verdana",sans-serif;color:#353535">Data Classification: Level 1 - Published</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
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