Learn more about outgoing subawards

Why does UMB conduct subaward risk assessments?
UMB conducts subaward risk assessments to comply with federal regulations, specifically 2 CFR 200.332. These assessments are crucial for the following reasons:
- Compliance with Federal Requirements: Federal regulations mandate that institutions evaluate the risk of noncompliance by subrecipients. This ensures that federal funds are used appropriately and in accordance with the law.
- Risk Management: By assessing the risk of noncompliance, UMB can identify potential issues early and implement appropriate monitoring measures. This helps prevent misuse of funds and ensures that subrecipients adhere to federal statutes, regulations, and the terms of the subaward.
- Efficient Monitoring: The risk assessment process allows UMB to tailor its monitoring efforts based on the specific risks associated with each subrecipient. Factors considered include the subrecipient's prior experience, audit results, new personnel or systems, and the extent of federal monitoring.
- Accountability and Transparency: Conducting thorough risk assessments and maintaining detailed records of the decision-making process enhances accountability and transparency. This is important for maintaining trust with federal agencies and other stakeholders.
- Continuous Improvement: Regular consultations and meetings within UMB ensure that the risk assessment process is continuously reviewed and improved. This helps UMB stay up-to-date with any changes in federal regulations and best practices in subrecipient monitoring.
Overall, these risk assessments help UMB manage risks effectively, ensure compliance, and maintain the integrity of federal programs.
Did you know you can look up subawards in KR using various lookup options? Below are just a few.
Common Tasks>Search Subawards
- Subaward ID (to see a specific subaward)
- Subrecipient Name (results include all subawards for issued to a single subrecipient)
- Award ID (to see all subawards under a single Award ID)
- Title (to see all subawards under a particular title)
- Account ID (to see subawards under a single PID)
- Requisitioner User Name (to see all subawards under a particular PI)
- Requisitioner Unit (to see all subawards in unit)
Choose “Both” for Document Status
Click Search