Invitation to comment on the draft Federal Financial Report

The government is trying to consolidate federal financial reporting requirements and recently issued a Federal Register notice to invite comments on the latest draft of that consolidated report. Here’s the heads-up from the National Grants Partnership.

Attached (here [PDF]) please find the federal register notice on the consolidated federal financial report which consolidates and replaces four existing financial reporting forms (SF–269, SF–269A, SF–272, and SF–272A) with a single Federal Financial Report (FFR). The form is unchanged from the form discussed during the webcasting and the from posting on the website. The attached notice does however address the 200 plus comments received when the form was first published in the federal register for comment in 2003.

This is your last chance to comment before the form and instructions are finalized. Please direct your comments to Marguerite Pridgen, Office of Federal Financial Management, Office of Management and Budget, 725 17th Street, NW., Washington, DC 20503; telephone 202–395‑7844; fax 202–395‑3952; e‑mail no later than JANUARY 08, 2008. Electronic submissions are encouraged due to mail delays.

The FFR “standardizes reporting information by providing a pool of data elements from which agencies can choose to use for reporting purposes. As a result, Federal agencies are not required to collect all of the information included in the FFR. Instead, they will identify, prior to or at time of award, the data elements that recipients must complete, the reporting frequency, the periods covered by each report, the dates that the reports are due, and the locations to which the reports are to be submitted.”