OMB has sent additional guidance regarding the 2014 Digital Accountability and Transparency Act, including establishing what it says will be the authoritative sources that agencies must use in required reporting under that law.
The law tasked OMB and Treasury to establish government-wide financial data definition standards for federal funds. Two sets of guidance issued last year addressed account-level reporting and standards to improve comparability with data reported in compliance with requirements pre-dating the act.
The latest guidance, in Management Procedures Memorandum 2016-03, addresses issues such as new federal prime award reporting requirements; reporting Treasury account symbols associated with each award; standards for federal award identification numbers for financial assistance awards; reporting financial assistance records containing personally identifiable information; use of a consistent federal hierarchy for award reporting; and agency certification and authoritative sources for reporting under the act.
The memo also sets deadlines for certain compliance requirements.
