On March 25, 2022, the National Institutes of Health (NIH) and the Agency for Healthcare Research and Quality (AHRQ) issued NOT-OD-22-099 - Upcoming Changes to the Federal Financial Report (FFR) Beginning April 1, 2022 (opens in new window), which removed the requirement to submit a Federal Cash Transaction Report (FCTR) quarterly. While this notice specifically indicates this was for NIH and AHRQ funding, HHS provided further clarification that this change is applicable to all other HHS Operating Divisions.
For all direct funding from HHS agencies, UCSF has previously submitted an FCTR quarterly to self-report the applied disbursements for each project funded under a Letter of Credit mechanism. At the end of the performance period of an award, expense and disbursement information in the cash transaction section of the Federal Financial Reports (FFR) (lines 10a through 10c) was expected to match the FCTR in time for the final report submission. Approval of the FFR was in part contingent on these numbers matching.
With the implementation of this change effective April 1, 2022, the cash transaction section will now be pre-populated with Payment Management System (PMS) information to provide real-time cash expense and disbursement information. Recipients can no longer manually adjust these numbers.
Contracts and Grants Accounting (CGA) will be adjusting final reporting timelines to accommodate this update.
- The final drawdown must now be requested and reimbursed prior to the final reporting submission.
- Final federal reporting milestones are currently established at 90 days after the end of the performance period. Going forward, CGA will set the final FFR milestone at 75 days to allow for adjustments to be captured in a final payment request.
- Notices and Final Reporting Certification (FRC) deadlines will be adjusted accordingly to meet this new deadline.
For any questions, please contact CGA at [email protected].