The main purpose of the OMB Circulars is to provide guidance to federal executive agencies on a range of fiscal, administrative and management topics, including expenditure of funds and grants management. The Circulars set out the regulations and requirements for how agencies are to manage their various business operations.
The Office of Management and Budget (OMB) is responsible for issuing Circulars that provide guidance to federal executive agencies on a wide range of topics. This includes guidance on fiscal, administrative and management topics, and also covers topics such as budgeting, accounting and financial disclosure.
The Circulars also provide direction on grants management. They establish how agencies should establish eligibility and criteria for granting awards, what procedures should be followed in awarding grants, and how grants should be managed. The Circulars also set out procedures for obtaining reimbursement from a grantee, including the necessary documentation and compliance requirements.
The Circulars also provide guidance on managing cost principles, which are important for ensuring that agencies are efficiently managing their funds. These principles cover topics such as allowable costs, disallowed costs, and special purpose costs. Additionally, the Circulars provide direction on how agencies should ensure that the expenditures are reasonable and necessary for the purpose of the program or activity for which the funds are being used.
Overall, the OMB Circulars provide a comprehensive guide to federal executive agencies on a range of fiscal, administrative and cost principles, to ensure that agencies are effectively managing their funds and grants.