UPDATE ON REQUIRED CARES ACT QUARTERLY REPORTING

Institutions that received funding under the CARES Act must begin reporting monthly to FFATA, according to a recent electronic announcement from ED’s Office of Postsecondary Education. The quarterly reporting requirements for the CARES Act are considered to be met under the more frequent, monthly reporting requirements of the Federal Funding Accountability and Transparency Act of 2006 (FFATA), Pub.L. 109-282, as amended by the Digital Accountability and Transparency Act (DATA Act), Pub.L. 113-101.

Through the FFATA Subaward Reporting System (FSRS), CARES Act grantees report the following data elements subawards greater than $25,000:
• Name of entity receiving award
• Amount of award
• Funding agency
• North American Industry Classification System (NAICS) code for contracts / Catalog of Federal Domestic Assistance (CFDA) program number for grants
• Program source
• Award title descriptive of the purpose of the funding action
• Location of the entity (including congressional district)
• Place of performance (including congressional district)
• Unique identifier of the entity and its parent
• Total compensation and names of top five executives (same thresholds as for primes)