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All grants and cooperative agreements |
Definition
OMB-approved form for reporting of allowable expenditures incurred on federal financial assistance awards. This form must be signed by award recipients.
43 CFR 12 Administrative Requirements (Restricted to awards with start dates prior to December 26, 2014)
The DOI "Common Rule" (43 CFR 12) references the now obsolete SF-269 ("Financial Status Report", or "FSR") as the OMB-approved governmentwide financial reporting form for federal financial assistance.[1] It does, however, allow for the use of future OMB-approved forms which may supersede the FSR.[2]
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Overview
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The Federal Financial Report (FFR), or SF-425, is the current form used by Federal financial assistance recipients to report to allowable costs incurred on their award-supported projects. This form is used both for interim and final reports required of the recipients.
Authorities
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2 CFR 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
§200.327 Financial reporting.
Unlike 43 CFR 12, the Uniform Guidance (2 CFR 200) does not specifically identify any OMB standard form for recipients to use when reporting on financial assistance awards. Instead, 2 CFR 200.327 ("Financial reporting") states that, "Unless otherwise approved by OMB, the Federal awarding agency may agency may solicit only the standard, OMB-approved governmentwide data elements data elements for collection of financial information (at time of publication the publication the Federal Financial Report or such future collections as may be approved be approved by OMB and listed on the OMB Web site). "
For DOI and its bureaus, the SF-425 (FFR) is the currrent OMB-approved financial reporting form for all financial assistance awards.
US Fish and Wildlife Policy
All Service financial assistance recipients are to use the SF-425. Recipients may submit the form, signed by the recipient or authorized representative, in printed or electronic format.[3]
References
[1] 43 CFR 12.81(b)(1).
[2] ibid. (a)(1).
This information must be collected with the frequency required by the terms and conditions of the Federal award, but no less frequently than annually nor more frequently than quarterly except in unusual circumstances, for example where more frequent reporting is necessary for the effective monitoring of the Federal award or could significantly affect program outcomes, and preferably in coordination with performance reporting.
[78 FR 78608, Dec. 26, 2013]
Frequently Asked Questions
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Must subrecipients use the SF-425 to report subaward-supported projects to their pass-through entities?
No. Subrecipients report their subaward-supported financial data in the format and frequency determined by their pass-through entity.
Learning Aids
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Completing the Federal Financial Report (SF-425)
Related Pages
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Resources
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References
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top[3] 516 FW 1.8 A.
