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This document outlines the requirements for subrecipients to report compensation information under the Federal Funding Accountability and Transparency Act (FFATA) of 2006 for awards of $25,000 or
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How to fill out federal funding accountability transparency
How to fill out Federal Funding Accountability & Transparency Act (FFATA) Reporting Requirements
01
Identify the applicable federal award that triggers FFATA reporting.
02
Gather necessary information including the award amount, recipient name, and project title.
03
Access the FFATA Subaward Reporting System (FSRS) website.
04
Log in to the FSRS using your credentials or create an account if you do not have one.
05
Complete the required fields in the reporting form, including submission date and recipient details.
06
Enter information about any subawards, including subrecipient names and amounts.
07
Review the completed report for accuracy and compliance with grant requirements.
08
Submit the report by the required deadline.
Who needs Federal Funding Accountability & Transparency Act (FFATA) Reporting Requirements?
01
Any entity receiving federal funds, including state and local governments, non-profits, and educational institutions.
02
Prime award recipients who have subawards they need to report.
03
Organizations that are mandated to comply with federal regulations regarding transparency in funding.
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What are the requirements for the Federal Funding Accountability and Transparency Act?
FFATA requires most recipients of new Federal funds awarded on or after October 1, 2010 report on subawards/subcontracts/consortiums equal to exceeding $30,000. This includes awards that are initially below $30,000 but subsequent grant modifications result in an award equal to or exceeding $30,000.
When to report in FSRS?
The reports are due by the end of the month following the month of the subaward. The names and total compensation of each of the five most highly compensated executives are due by the end of the month following the month of the award as well as annually thereafter.
What is the FFATA reporting requirement?
In ance with 2 CFR Chapter 1, Part 170, prime awardees of a federal grant are required to file a FFATA sub-award report by the end of the month following the month in which the prime awardee awards any sub-award equal to or greater than $30,000 in Federal funds that does not include recovery funds.
Who is exempt from FFATA reporting pdf?
If, in the previous tax year, you had gross income, from all sources, under $300,000, you are exempt from the requirements to report: Subawards,and. The total compensation of the five most highly compensated executives of any subrecipient.
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What is Federal Funding Accountability & Transparency Act (FFATA) Reporting Requirements?
The Federal Funding Accountability and Transparency Act (FFATA) requires the federal government to be transparent about the distribution of federal funds. It mandates the reporting of information about federal awards, including grants and contracts, thus providing the public with greater access to information on federal spending.
Who is required to file Federal Funding Accountability & Transparency Act (FFATA) Reporting Requirements?
Entities that receive federal awards, including grants and contracts from federal agencies, are required to file FFATA reports. This includes non-profits, state and local governments, educational institutions, and businesses.
How to fill out Federal Funding Accountability & Transparency Act (FFATA) Reporting Requirements?
To fill out FFATA reporting requirements, recipients must collect the required information about federal awards, including the award amount, award date, and the recipient's DUNS number. This information then needs to be submitted to the Federal Awardee Performance and Integrity Information System (FAPIIS) or through the designated federal agency’s reporting mechanism.
What is the purpose of Federal Funding Accountability & Transparency Act (FFATA) Reporting Requirements?
The purpose of FFATA Reporting Requirements is to ensure that the public has access to information about federal spending, promoting transparency and accountability in the use of government funds. It aims to prevent waste, fraud, and abuse in federal funding.
What information must be reported on Federal Funding Accountability & Transparency Act (FFATA) Reporting Requirements?
The information that must be reported includes the names of the entities receiving the award, the amount of the award, the federal agency providing the funding, the funding opportunity number, and the DUNS number of the recipient. Additionally, details on executive compensation and the location of the entity receiving the funds may also be required.
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