Phase 2: Reporting subcontracts under federally-awarded contracts and orders valued greater than or equal to $550,000, reporting starts October 1, 2010.Phase 1: Reporting subcontracts under federally-awarded contracts and orders valued greater than or equal to $20,000,000, reporting starts now.This reporting requirement will be phased-in (see below): 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 $30,000. The sub-award information entered in FSRS will then be displayed on associated with the prime award furthering Federal spending transparency. Prime contract awardees will report against sub-contracts awarded and prime grant awardees will report against sub-grants awarded. prime contractors and prime grants recipients) use to capture and report subaward and executive compensation data regarding their first-tier subawards to meet the FFATA reporting requirements. 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 The FFATA Subaward Reporting System (FSRS) is the reporting tool Federal prime awardees (i.e. The end result is to reduce wasteful spending in the government. The intent is to empower every American with the ability to hold the government accountable for each spending decision. The Federal Funding Accountability and Transparency Act (FFATA) was signed on September 26, 2006.
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