Grants Oversight and New Efficiency (GONE) Act
The objective of the Grants Oversight and New Efficiency (GONE) Act is to identify and close out expired grants. Each federal agency, in coordination with the Department of Health and Human Services (HHS) and instruction of the Office of Management and Budget (OMB), is required to submit to Congress and HHS by December 31st, 2017 a report that:
- Identifies each federal grant award the agency holds
- Provides the total number of federal grant awards, including the number of grants by time period of expiration, the number with zero dollar balances, and the number with undisbursed balances
- Describes the challenges leading to delays in grant closeout
- Explains, for the 30 oldest federal grant awards, why each has not been closed out
The covered grants are those within an agency's cash payment management system that have been expired for two or more years and have not been closed out. No later than one year after the head of an agency submits its report, the agency head will be required to notify HHS on whether the agency has closed out the covered grants discussed in its report. HHS is required to compile this information and provide it to Congress.
How Grant Thornton Can Help
Grant Thornton has professionals skilled in advisory and audit competencies to include Grants Management legislative requirements such as the GONE Act and the Uniform Grant Guidance (CFR Title 2 Part 200). We stand ready to assist our clients in meeting the challenges of the GONE Act by offering strategies and insights gained through our experience working with agencies across the public sector. To meet the immediate needs prescribed in the GONE Act, we offer risk advisory, financial management and decision analytic services.
Any new legislation which requires new reporting can be daunting. We understand that the requirements of the GONE Act imposes the use of additional time and resources. However, by deploying solutions which are effective, efficient, and strategic, agencies can comply with the requirements of the GONE Act while improving their grants programs.