Federal Funding Accountability and Transparency Act of 2006 (FFATA)
Federal Funding Accountability and Transparency Act of 2006 (FFATA), Public Law 109-282 Certification:
The potential subrecipient applying for federal funding must comply with FFATA. In order to apply for federal funding with CVAD, the agency must have a DUNS number, register at www.SAM.gov and maintain an active registration, and when appropriate, must comply with Executive Compensation Reporting.
FFATA was signed on September 26, 2006, and requires the existence of a single searchable website, (www.USASpending.gov) accessible by the public at no cost, that includes information about where and how federal funds are spent. This includes information on grants, subgrants, loans, awards, cooperative agreements and other forms of financial assistance funded with federal funds. Federal grant awards of $25,000 or more began being reported October 1, 2010. State agencies that receive federal awards now report subgrant information for public access.
DUNS Number: To enable state agencies that receive federal awards to report this information, subgrantees (i.e., Subrecipients) are required to obtain and report a DUNS numbers. A DUNS number is obtained through Dun & Bradstreet (D&B) and is a unique nine-digit identification number that is assigned for FREE for all businesses required to register with the US Federal government for contracts or grants A DUNS number is required to receive federal funding. For more information and to obtain a DUNS number go to the following website: http://fedgov.dnb.com/webform.
SAM Registration: Subrecipients are required to register with the System for Award Management (SAM). SAM is a centrally located database of all grantees and contractors with the federal government. In order to register you must have a DUNS number. Registration can be done at www.SAM.gov .
Executive Compensation Reporting: FFATA now requires a subgrantee of a federal award to report the names and total compensation of the most highly compensated executives (i.e., officers, managing partners, or any other employees in management positions) if they meet all of the following criteria:
- 80 percent or more of the subgrantee’s annual gross revenues from Federal procurement contracts and Federal financial assistance subject to the Transparency Act, as defined at 2 CFR 170.320; and
- $25,000,000 or more in annual gross revenues from Federal procurement contracts, and Federal financial assistance subject to the Transparency Act; and
- The public does not have access to information about the compensation of the executives through periodic reports filed under section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a), 78o(d)) or section 6104 of the Internal Revenue Code of 1986. (To determine if the public has access to the compensation information, see the U.S. Security and Exchange Commission total compensation filings at http://www.sec.gov/answers/execomp.htm.