Relevant grant news you can use: a state-by-state comparison of single audit findings, an upcoming SAM webinar, a look at CDBG funding cuts, and how "pay for success" financing could help social service programs.
Single Audit Report: Where Does Your State Rank?
A state of Maryland study compares state ranking and trends in single audit findings, with Mississippi, Maryland, and South Dakota having the fewest audit findings, respectively. The report includes conclusions about best practices. High-performing states contacted by the Governor's Grants Office all “indicated that they had audit and/or grants management training in place for officials responsible for the management of federal grant-funded programs.”
SAM Webinar Training
On Thursday, July 18, 2013, at 10:00 a.m. EST, guest speaker Memi Whitehead, a trainer on the federal government's new SAM.gov system for potential grantees and contractors, will host a technical webinar training on registering and renewing online at the new SAM.gov online registry. Federal grant seekers must first register with SAM.gov or convert to it if registered on the old system (CCR). Register for the webinar here.
House T-HUD Bill Cuts CDBG by $1.4 Billion
Last week the House Transportation-HUD Appropriations Subcommittee approved its FY2014 appropriations bill, cutting the Community Development Block Grant (CDBG) formula funding by almost 45 percent, from $3 billion to $1.6 billion. The full Appropriations Committee is scheduled to consider the bill this Thursday. Read more from The Ferguson Group and the National Association of Counties (NACo).
What Are “Pay for Success” Projects?
“Pay for success” social service projects (also known as social impact bonds, SIBs) put the initial investment risk on private and philanthropic investors rather than on the government agency. Under this model, the government agency provides performance-based funding only if the project is successful, ostensibly saving taxpayer dollars. Many have weighed in on this relatively new and results-still-pending model of project financing at a time when all sectors are strapped for cash. It has piqued the interest of the private, public, and nonprofit sectors and the Obama administration, while also drawing skepticism and criticism. One example of a "pay for success" program is the Department of Labor's Workforce Innovation Fund.
There are so many sources on the subject that I’ll choose a few I think will be most relevant to our readers:
- Could the "Pay for Success" model help the OMB with guidance?http://www.americanprogress.org/issues/economy/news/2013/04/26/61415/pay-for-success-programs-could-help-omb-with-grant-guidance/
- The White House’s take on the subject: http://www.whitehouse.gov/omb/factsheet/paying-for-success
- A slew of perspectives on social impact bonds from the Stanford Social Innovation Review: http://www.ssireview.org/tags/Social+Impact+Bonds
- Interim results of the Peterborough prison SIB work (the first “pay for success” experiment, intended to curb recidivism): http://payforsuccess.org/resources/interim-results-peterborough-pilot-sib-released
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