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This bulletin highlights the importance of effective subrecipient management and oversight by grantees receiving funds from the U.S. Department of Housing and Urban Development’s (HUD) Office of Community Planning and Development (CPD).  On December 26, 2013, the Office of Management and Budget issued revised guidance under 2 CFR (Code of Federal Regulations) Part 200.  The result was consolidation of and changes to government-wide uniform administrative requirements, cost principles, and audit requirements for Federal awards.  These changes emphasized a grantee’s responsibility to manage…