Who is exempt from FFATA reporting?
Subrecipients are not required to report FFATA if they reported less than $300,000.00 in gross income in the previous tax year. In addition, exemptions to the FFATA reporting requirements may occur and it is up to each area to understand their sponsor’s requirements.
Who needs to file FFATA?
FFATA requires most recipients of new Federal funds awarded on or after October 1, 2010 to report on subawards/subcontracts/consortiums equal to or greater than $25,000. This includes awards that are initially below $25,000 but subsequent grant modifications result in an award equal to or greater than $25,000.
Is FFATA reporting still required?
FFATA (Federal Funding Accountability and Transparency Act) reporting is required by all prime awardees that enter into subawards for $25,000 or greater. The purpose of this reporting is to provide a single searchable website that contains information on all Federal awards.
Is Subrecipient exempt from reporting compensation?
d. 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.
What is Ffata reporting NIH?
Federal Funding Accountability and Transparency Act. The Federal Funding Accountability and Transparency Act of 2006 (FFATA), ensures that the public can access information on all entities and organizations receiving Federal funds.
What is the purpose of Ffata?
The Federal Funding Accountability and Transparency Act (FFATA) was signed on September 26, 2006. The intent is to empower every American with the ability to hold the government accountable for each spending decision. The end result is to reduce wasteful spending in the government.
Does a subrecipient need a DUNS number?
Unique Entity Identifier/DUNS Number (2 CFR 25) – Prospective recipients and first tier subrecipients must obtain a Dun and Bradstreet Data Universal Numbering System number (referred to in 2 CFR Part 25 as a “unique entity identifier”) to be eligible to receive federal assistance, such as grants and cooperative …
What does Ffata stand for?
Federal Funding Accountability and Transparency Act
◉ The Federal Funding Accountability and Transparency Act (FFATA) of 2006 (Public Law 109-282) requires for each Federal award of $25,000 or more that OMB create a searchable, no-cost, publicly accessible website (http://usaspending.gov/) that includes basic information about the recipient and the project being funded.
What is a first-tier Subaward?
First-tier subawards. This requirement kicks in when you make any subaward obligation equal to or greater than $25,000. You must file a report in the Federal Funding Accountability and Transparency Act Subaward Reporting System (FSRS) no later than the end of the following month.
What is an Ffata report?
The FFATA Subaward Reporting System (FSRS) is the reporting tool Federal prime awardees (i.e. prime contractors and prime grants recipients) use to capture and report subaward and executive compensation data regarding their first-tier subawards to meet the FFATA reporting requirements.
Does a subrecipient have to be registered in Sam?
Subrecipients are not required to obtain an active SAM registration, but must obtain a Unique Entity Identifier.
Can a company have multiple DUNS numbers?
Yes, more than one D-U-N-S Number can be issued at the same physical location if they are (1) separate legal entities (ie; LLC, Inc., Corp) or (2) companies that have the same legal business name but different DBA’s and/or a different line of business that is specific to the nature of operations.
Do ffata requirements apply to awards funded by the government?
The FFATA requirements do NOT apply to awards to an individual who applies for or receives an award as a natural person (i.e., unrelated to any business or non-profit organization he or she may own or operate in his or her name) or to awards funded by the Recovery and Reinvestment Act of 2009.
Are ARRA-funded federal contracts subject to ffata reporting?
For ARRA-funded Federal contracts that are subject to FFATA reporting, the prime recipient will be required to report the ARRA-funded Federal contracts to both FederalReporting.gov and FSRS if the contract so requires.
What is the purpose of the ffata legislation?
The end result is to reduce wasteful spending in the government. The FFATA legislation requires information on federal awards (federal financial assistance and expenditures) be made available to the public via a single, searchable website, which is www.USASpending.gov.
What does ffata stand for?
The Federal Funding Accountability and Transparency Act (FFATA) of 2006 (Public Law 109-282) requires for each Federal award of $25,000 or more that OMB create a searchable, no-cost, publicly accessible website (http://usaspending.gov/) that includes basic information about the recipient and the project being funded.