How does FFATA improve transparency?
Mara Ash.
OMB released updated guidelines to the Federal Funding Accountability and Transparency Act with the aim of making it easier to see how tax dollars are being spent under memo M-22-02. While the updated guidelines are addressed to the heads of governmental agencies, it is important to point out that those who work in the areas Grants Management should be aware that changes to the FIBF(Federal Integrated Business Framework) are being discussed by the GSSA (Grants Standard Setting Agency). Why is that important to you? Well, if you are a PTE, it means your FFATA data collection and submission is about to change. If you are a recipient, it means your reporting is about to change. Awareness of pending changes helps your organization stay ahead of the curve and avoid being blindsided by changes! The new guidelines shares some existing date sensitive and actionable items grants folks should be aware of immediately:
• Effective October 1, 2021, for all new financial assistance awards, agencies must report the Assistance Listing and the associated funding to USAspending.gov.
Note: PTEs should be including this data in their new Notice of Award (NOA) formerly the NOGA per the new 2 CFR 200 guidelines.
• Effective October 1, 2021, if the Period of Performance End Date for grants and cooperative agreements is revised for any reason (e.g., due to an extension, termination, lack of available funds, etc.), agencies are required report the updated Period of Performance End Date to USAspending.gov.
• Effective April 4, 2022 (with optional reporting October 1, 2021), for grants and cooperative agreements, agencies must report the data element GRM2 Indirect Cost Federal Share Amount.
• Effective October 1, 2023 (with optional reporting October 1, 2021), for competitive discretionary grants and cooperative agreements, agencies must report the data element Funding Opportunity Number.
Note: PTEs should be including this data in their new Notice of Award (NOA) formerly the NOGA per the new 2 CFR 200 guidelines.
• Effective October 1, 2023 (with optional reporting October 1, 2021), for competitive discretionary grants and cooperative agreements, agencies must report the data element Funding Opportunity Goals Text.
You can read the full contents of the memo here .
WE are best in class.
We serve the public sector in a myriad of ways. From Co-Sourced to Out-Sourced, Partnerships and Primes, BFS has done it all. To learn more about how we can help you, get in touch!