Final answer:
2 CFR 215 (OMB Circular A-110) refers to Uniform Administrative Requirements for Grants and Agreements with Institutions of Higher Education, Hospitals, and Other Non-Profit Organizations, providing a standardized set of regulations for the administration of federal funds to these entities.
Step-by-step explanation:
2 CFR 215 (OMB Circular A-110) refers to D. Uniform Administrative Requirements for Grants and Agreements with Institutions of Higher Education, Hospitals, and Other Non-Profit Organizations. This regulation sets forth standards for obtaining consistency and uniformity among federal agencies in the administration of grants to and agreements with institutions of higher education, hospitals, and other non-profit organizations.
OMB Circular A-110 has been codified in 2 CFR 215 to provide a single, comprehensive, and authoritative source of federal regulations. It specifically addresses areas such as financial reporting, record keeping, and budgeting, ensuring that all federally supported activities are conducted in a consistent manner. The circular establishes principles for determining costs applicable to grants, contracts, and other government agreements with non-profit organizations.