[Code of Federal Regulations]
[Title 2, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 2CFR220.25]

[Page 68-69]
 
                     TITLE 2--GRANTS AND AGREEMENTS
 
   CHAPTER II--OFFICE OF MANAGEMENT AND BUDGET CIRCULARS AND GUIDANCE
 
PART 220_COST PRINCIPLES FOR EDUCATIONAL INSTITUTIONS (OMB CIRCULAR 
 
Sec.  220.25  OMB responsibilities.

    OMB is responsible for:
    (a) Issuing and maintaining the guidance in this part.
    (b) Interpreting the policy requirements in this part and providing 
assistance to ensure effective and efficient implementation.

[[Page 69]]

    (c) Granting any deviations to Federal agencies from the guidance in 
this part, as provided in Appendix A to this part. Exceptions will only 
be made in particular cases where adequate justification is presented.
    (d) Conducting broad oversight of government-wide compliance with 
the guidance in this part.