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To deliver on the promise of a 21st-Century government that is more efficient, effective and transparent, the Office of Management and Budget (OMB) is streamlining the Federal government's guidance on Administrative Requirements, Cost Principles, and Audit Requirements for Federal awards. These modifications are a key component of a larger Federal effort to more effectively focus Federal resources on improving performance and outcomes while ensuring the financial integrity of taxpayer dollars in partnership with non-Federal stakeholders. This guidance provides a government-wide framework for grants. This reform of OMB guidance will reduce administrative burden for non-Federal entities receiving Federal awards while reducing the risk of waste, fraud and abuse. This final guidance supersedes and streamlines requirements from OMB Circulars A–21, A–87, A-89, A-102, A–110, A–122 and A-133; and the guidance in Circular A–50 on Single Audit Act follow-up. As part of this reform effort, this rule implements OMB's new guidance in HUD's programs regulations.