Federal Government Implements Transparency Requirements
On April 6, 2010, the Office on Management and Budget (OMB) released a memorandum outlining its plans to implement Federal Funding Accountability and Transparency Act (FFATA, P.L. 109-282) requirements for recipients of federal grants, contracts, cooperative agreements, and other financial assistance. The memorandum sets an October 1, 2010, deadline for federal agencies to begin implementing the sub-award reporting requirements mandated by FFATA. Prime recipients, including state agencies, as well as sub-recipients must comply with the sub-award reporting requirements for all relevant awards that occur after the October 1, 2010, deadline.