FEDERAL FUNDING ACCOUNTABILITY AND TRANSPARENCY ACT OF 2006 (FFATA)

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Presentation transcript:

FEDERAL FUNDING ACCOUNTABILITY AND TRANSPARENCY ACT OF 2006 (FFATA)

Subaward and Executive Compensation  Requires prime recipients to report on first-tier subawards of $25K or more.  Requires prime recipients to report executive compensation for prime or subawards if: The organization received 80% or more of its annual gross revenues in Federal awards and those revenues are greater than $25 million; and The public does not have access to information about executive compensation through periodic reporting.

When to Report  For Federal awards of $25K or more made on or after October 1, 2010, the prime recipient must report first-tier and executive compensation data.  Not applicable to supplements made on or after October 1,  Data must be reported in FSRS the following month after the obligation is made. Example: Awards made during October 2010 will have until November 30, 2010 to report.

 Prime recipients must report FFATA requirements in the (FFATA) Subaward Reporting System (FSRS) Subaward and Executive Compensation

FSRS Home Page

Registration Help After submitting this form, you will receive an to verify the information. Only after following the instructions in the will your account be activated. FSRS Home Page

 Award recipients have 90 days after the end date of the award to close out the award. –Cash Reconciliation Request reimbursement of funds to cover expenditures. The Federal expenditures must be equal to or greater than the cash disbursements from the awarding agency. –Drawdown of Funds Request final payment Funds will be frozen after 90 days Closeouts

 CLOSEOUT REQUIREMENTS: Final Federal Financial Report (SF- 425) Final Progress Report Refund Excess Cash Closeouts

 Refund excess cash Make check payable to DOJ/Office of Justice Programs Cover letter or voucher containing the grant number for the refund, itemization of funds and the unobligated balance. Printout of the final SF-425 report which supports the amount of the refund Failure to remit payment to OJP will be referred to the U.S. Department of the Treasury for collection. Closeouts

2013 OJP Financial Guide Financial Guide Electronic Access for the OJP Financial Guide via Internet  General Information  Pre-award Requirements  Post Award Requirements  Organization Structure  Appendices

OCFO Financial Questions via Telephone/Internet OCFO Customer Service Center Monday through Friday 8:30 am - 6:00 pm ET 1-(800) or (202) FAX (202) OCFO Address:

 Over 2,228 Programs  15 Types of Assistance  66 Agencies  Search by Keyword Catalogue of Federal Domestic Assistance (CFDA) HOW TO ACCESS GRANT $$

For more information Call the Federal Service Desk: FEDERAL DOMESTIC ASSISTANCE CATALOG STAFF th Street, S.W. Room #101 Washington, D.C HOW TO ACCESS GRANT $$

Electronic Access to Circulars & Common Rules via Internet OMB Home Page: Click “Code of Federal Regulations”

THE END