The Office of Management and Budget (OMB) leads the development of government-wide policy to assure that grants are managed properly and government dollars are spent in accordance with applicable laws and regulations. As part of this effort, OMB has issued the following circulars to serve as a guide to the various entities applying for, receiving and managing federal grants.
 

Federal Grant Guidelines	States/ Local Governments/ Indian Tribes	Nonprofits	Universities	Hospitals	For-Profit
Administrative Requirements	A-102	2 CFR 215 (formerly A-110)	2 CFR 215 (formerly A-110)	2 CFR 215 (formerly A-110)	2 CFR 215
Cost Principles	2 CFR 225 (formerly A-87)	2 CFR 230 (formerly A-122)	2 CFR 220 (formerly A-21)	45 CFR 74 (HHS regulations)	FAR 31.2
Audit Requirements	A-133 *subject to A-133 if receive more than $500K in federal $/year	A-133 *subject to A-133 if receive more than $500K in federal $/year	A-133 *subject to A-133 if receive more than $500K in federal $/year	A-133 *subject to A-133 if receive more than $500K in federal $/year	Varies by agency