The Office of Federal Financial Management (OFFM) within the Office of Management and Budget (OMB) announced in the April 23 Federal Register government-wide interim final guidance and standard award terms for agencies to include in financial assistance awards (namely, grants, cooperative agreements and loans) as part of their implementation of sections 1512, and 1605, and 1606 of ARRA. This guidance does not cover all award terms that may be needed on financial assistance awards funded directly or assisted by the Federal Government under the Recovery Act. The focus of this guidance is on implementing Recovery Act provisions that may require greater clarification in order to foster consistent application across the Federal Government.
Under the interim final guidance, agencies would use the standard award terms in their financial assistance awards to require recipients and subrecipients (first-tier that are not individuals) to maintain current registrations in the Central Contractor Registration (CCR) database; to require recipients to report quarterly on project or activity status, subgrant and subcontract information; to notify recipients of the domestic sourcing (Buy American) requirements that apply to certain iron, steel and manufactured goods; to notify recipients of the wage rate requirements that apply to certain projects; and to ensure proper accounting and reporting of Recovery Act expenditures in single audits.
OMB is accepting comments by no later than June 22, 2009. More information is available through the Federal Register by clicking here.
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