Federal Subaward Reporting System (FSRS)
The intent of the Federal Funding Accountability and Transparency Act (FFATA) is to empower every American with the ability to hold the government accountable for each spending decision. The end result is to reduce wasteful spending in the government. The FFATA legislation requires information on federal awards (federal financial assistance and expenditures) be made available to the public via a single, searchable website, which is www.USASpending.gov. The FFATA Subaward Reporting System (FSRS) will collect data from Federal prime contractors on subcontracts they award and populate USASpending.gov.
Benefits of FSRS
- Easily accessibly Web-based system.
- Does not require additional user accounts for current users of eSRS.gov.
- Promotes greater Public Oversight of Subcontract Awards.
- Provides a live interface with Federal Procurement Data System - Next Generation (FPDS-NG) that automatically populates prime contract data reported by Government Contracting Officials.
- Improves accuracy, timeliness and integrity of data exchanged.
Deployment across the Department of Defense and Federal Government
Prime Contractors awarded a federal contract or order that is subject to Federal Acquisition Regulation clause 52.204-10 (Reporting Executive Compensation and First-Tier Subcontract Awards) are required to file a FFATA subaward report by the end of the month following the month in which the prime contractor awards any subcontract greater than $25,000. This reporting requirement will be phased-in (see below):
- Phase 1: Reporting subcontracts under federally-awarded contracts and orders valued greater than or equal to $20,000,000, reporting starts now.
- Phase 2: Reporting subcontracts under federally-awarded contracts and orders valued greater than or equal to $550,000, reporting starts October 1, 2010.
- Phase 3: Reporting subcontracts under federally-awarded contracts and orders valued greater than or equal to $25,000, reporting starts March 1, 2011.