As a recipient or potential recipient of federal funding, either directly or indirectly, you need to be aware of the new rules coming at you very soon. The federal circulars as we know it are going away (A-133, A-122, etc.). The laws are now combined into the Uniform Grant Guidance. Hopefully you have heard about this and are already in the planning stages. These new rules are effective 12/26/14 and apply to all new federal grants (direct or passed through a state, county, city or other nonprofit) or additional federal grant funds received after that date.
This is only a summary. There is information in the summary that points you to the full guide as well.