Effective December 26, 2014, a new federal guidance will go into effect eliminating the Office of Management and Budget’s (OMB) circulars A-21, A-110, and A-133. These circulars will be replaced by A-81, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. The purpose of the guidance is to streamline administrative burdens, and to strengthen oversight of federal funds to reduce fraud, waste and abuse. A-81 applies to all new federal funding (new award, continuation awards, supplements, etc.) and may also apply to unobligated balances and liquidated obligations if specifically stated in the award document.