ASAP – U.S. Treasury’s Automated Standard Application for Payments
In Federal Fiscal Year 2012, the Service changed financial systems from the Federal Financial System (FFS) to the Financial and Business Management System (FBMS). As part of this transition, we moved grant and cooperative agreement award payment management to the U.S. Treasury’s Automated Standard Application for Payments (ASAP). ASAP is a Federal-wide system. State and local governments, non-profits, universities, as well as some individuals are already using the system to draw funds for awards received through other Federal agencies.
ASAP:
- Eliminates the requirement for SF-270, Request for Advance or Reimbursement, or SF-271, Outlay Report and Request for Reimbursement for Construction Programs;
- Eliminates the need for invoices and detailed receipts;
- Makes funds available to recipients so they reduce the time between doing the work and getting paid for it; and
- Is available to anyone who has access to a computer with Internet service
