Federal Financial Accountability and Transparency Act (FFATA)

The Federal Financial Accountability and Transparency Act (also known as FFATA or the Transparency Act) requires that information on federal awards be made available to the public via a single, searchable website.  The federal government has been submitting data on prime awards since January 2008 and sub-award reporting requirements began for contracts on July 1, 2010 and for grants on October 1, 2010. The data is reported through the Federal Subaward Reporting System (FSRS.gov) and viewable by the public through USASpending.gov.

The reporting requirements apply to individual Federal grants and contracts, as follows

  • Prime grant awardees of Federal grants awarded on or after October 1, 2010, must report associated first-tier sub-grants issued for $25,000 or more.
  • Prime contract awardees of Federal contracts must report associated first tier sub-contracts issued for $25,000 or more on a phased in approach:
    • Phase 1: Prime award greater than $20M, awarded on or after July 1, 2010
    • Phase 2: Prime award greater than $550K, awarded on or after October 1, 2010
    • Phase 3: Prime award greater than $25K, received on or after March 1, 2011

The reporting is due by the end of the month following the month the sub-award/sub-contract is fully executed (signed by the University of Iowa).   The data that awardees are required to report is essentially, basic information about the subrecipient.

The Division of Sponsored Programs collects most of the required data through the sub-award/sub-contract documents.  Grant Accounting utilizes this data to submit the required reports on behalf of the university. If you have any questions about the reporting, please contact Missy Bachus.

 

Last Updated: 4/24/14