Federal Financial Reports

Number 2009-55
10-08-09

Please click here for the PDF version.

The Office of Management and Budget (OMB) released a new Standard Form (SF) 425, Federal Financial Report (FFR). This new FFR replaces the SF-269A, Financial Status Report (FSR), which was filled out directly in Transportation Electronic Award and Management (TEAM), and the SF-272, Federal Cash Transactions Report, which FTA did not require.

The FFR is effective for the reporting period ending September 30, 2009. The reporting due dates are October 10 for American Recovery and Reinvestment Act (ARRA) grants and October 30, for all other grants. As with the FSRs, the data entries for the FFRs will be directly in TEAM. FTA was not able to program TEAM to incorporate all the new data requirements by the September 30 reporting period. For this reporting period, the changes are primarily in the transaction type (expenditures vs. outlays) and order the data is displayed in TEAM to match the order in the FFR. In the Financial Status tab, grantees still enter four data elements:

• Total Expenditures (old Total Outlays)
  o   In this line, enter total grant expenditures on the accrual basis of Accounting.  This means the sum of cash disbursements for direct charges for property and services; the amount of indirect expense incurred; the value of in-kind contributions applied; and the net increase or decrease in Accounts Payable (goods and services received but not yet paid).
• Recipient share of Expenditures
  o   In this line, enter the local share of the total expenditures.
• Total Unliquidated Obligations
  o   In this line, enter the total of all grantee binding commitments.  That is, all the commitments entered into for which the goods and services have not been received yet.
• Recipient Share of Unliquidated Obligations
  o   In this line, enter the local share of all grantee binding commitments.

The new and re-organized TEAM screens will be ready by October 10, 2009. The remaining data elements required by the FFR will be available by the December 31, 2009 reporting period.

If you already submitted any 4th quarter or annual Financial Status reports in TEAM, you do not need to resubmit them. TEAM will automatically import your submitted Financial Report into the FFR format.

For further information, please contact Ken Feldman at (206) 220-7521 or email kenneth.feldman@dot.gov.

Sincerely,

/s/

R.F. Krochalis
Regional Administrator

 

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