The Federal Financial Report (FFR) Major changes between the SF-269-A and SF-425 Federal Transit Administration

Authority of Financial Reporting 49 CFR 18.41 (b) Financial Status Report (1) Form. Grantees will use Standard Form 269 or 269A, Financial Status Report, to report the status of funds for all nonconstruction grants and for construction grants when required in accordance with §18.41(e)(2)(iii). On 10/1/09, the SF-425 replaced the SF 269 / 269(a) 49 CFR 18.41(e)(2)(iii) The Federal agency may substitute the Financial Status Report specified in §18.41(b) for the Outlay Report and Request for Reimbursement for Construction Programs. FTA TPM ver3.1

Objectives of the FFR Primary source of financial information for FTA Report actual financial situation of the grants FTA monitors the status of all open grants on a quarterly basis Key indicators of potential problems Excessive unobligated balances Obligated more than 5 years ago and/or have not had a disbursement within the past 18 months FTA TPM ver3.1

FTA C 5010.1D FTA C 5010.1D Financial Status Reports Purpose Chapter III, Section 3(b) Financial Status Reports Purpose Provide current, complete, and accurate financial picture of the grant. Submitted electronically in TEAM FTA TPM ver3.1

Basic Requirements Prepare report on accrual basis of accounting – except for the Cash on Hand section Include financial activities for program of projects, including any operating assistance Submit report in TEAM no later than 30 days after the end of each reporting period FTA TPM ver3.1

Major Changes Major changes for SF-425 in TEAM Federal Cash Reporting Reporting of Program Income ‘Remarks and Comments’ tab changed to ‘Remarks and Certification’ tab Certification Added language for compliance Mandatory check box next to the above language for the user to show that they have agreed FTA TPM ver3.1

Definitions Accrual Basis of Accounting Income is recognized when earned instead of when received Expenditures are recognized when incurred instead of when paid FTA TPM ver3.1

Definitions Cash Receipts Cash Disbursements The cumulative amount of actual cash received from the FTA as of the reporting period end date. Cash Disbursements The cumulative amount of Federal fund disbursements as of the reporting period end date. Disbursements are the sum of actual cash disbursements for direct charges for goods and services, the amount of indirect expenses charged to the award, and the amount of payments made to subrecipients and contractors. FTA TPM ver3.1

Definitions Expenditures Total project costs incurred on the accrual basis of Accounting. The sum of cash disbursements for direct charges for property and services; The amount of indirect expense incurred; The amount of in-kind contributions Net increase or decrease in Accounts Payable or Accrued Expenses FTA TPM ver3.1

Definitions Accounts Payable / Accrued Expenses Amount for goods and services received but not yet paid for Unliquidated Obligations Grantee binding commitments that have been entered into for goods and services that have not been received. FTA TPM ver3.1

Definitions Program Income Gross income received by the grantee or subgrantee directly generated by a grant supported activity, or Earned only as a result of the grant agreement during the grant period. Examples income from fees for services performed, from the use or rental of real or personal property acquired with grant funds, from the sale of advertising and concessions, and from the sale of commodities or items fabricated under a grant agreement. FTA TPM ver3.1

Program Income When the Common Grant Rule passed in March 1988, FTA obtained a deviation from following the different methods of using program income 49 CFR part 18.25(g)(5) states: UMTA (now FTA) grantees may retain program income for allowable capital or operating expenses. FTA TPM ver3.1

Definitions Program Income does not include interest on grant funds, rebates, credits, discounts, refunds, etc. and interest earned on any of them. sale of assets - proceeds from the sale of real property or equipment will be handled in accordance with the requirements of §§ 49 CFR parts 18.31 and 18.32. farebox revenues must be deducted from Eligible Operating Costs before applying for Operating Assistance FTA TPM ver3.1

Questions? Please contact your regional office for assistance FTA TPM ver3.1