Federal
Funding Accountability and Transparency Act (FFATA)
The Federal Funding Accountability and Transparency Act (FFATA) requires recipients to report sub-award information to FSRS by the end of the month following the month in which the sub-award was made.
Overview
The intent of the Federal Funding Accountability and Transparency Act (FFATA) legislation requires information on federal awards such as federal financial assistance and expenditures be made available to the public through a single, searchable website, which is www.USASpending.gov. The FFATA Sub-Award Reporting System (FSRS) is the reporting tool that federal prime awardees (i.e., prime contractors and prime grants recipients) use to capture and report sub-award and executive compensation data regarding their first-tier sub-awards to meet the FFATA reporting requirements. Prime contract awardees will report against sub-contracts awarded and prime grant awardees will report against sub-grants awarded. The sub-award information is entered in FSRS.
2 CFR 170 requires an entity to report each action that equals or exceeds $30,000 ($25,000 prior to November 12, 2020) in Federal funds for a sub-award by the end of the month following the month they make any sub-award or obligation. The reporting requirement is triggered when the total of the sub-award equals or exceeds the $30,000 ($25,000 prior to November 12, 2020) threshold.
NOTE: Once the entity submits an initial report, it can revise it later to add additional sub-awards as they are made, or to change data previously submitted to reflect adjustments in sub-awards.
References:
2 CFR 170 Appendix A to Part 170 – Award Term
FTA Circular 5010.1E, Chapter III, Section 3.f – Award Management Requirements
