WHO IS EXEMPT FROM FFATA REPORTING REQUIREMENTS FOR CARES ACT FUNDS

ED INDICATES INSTITUTIONS WITHOUT SUBAWARDEES EXEMPT FROM FFATA REPORTING REQUIREMENTS FOR CARES ACT FUNDS

Last Month ED published an announcement stating that schools would satisfy the quarterly reporting requirements in the CARES Act by simply reporting each month in compliance with the Federal Funding Accountability and Transparency Act of 2006 (FAFTA). The only problem is that most institutions don’t have to comply with FFAFTA because they don’t make subawards from federal grants. According to NASFAA, ED will be issuing a Frequently Asked Questions “to explain that schools that do not have subawardees for their CARES Act formula grants would not have a FFATA reporting obligation.”