34 CFR 74.52 - Financial reporting.

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There is 1 rule appearing in the Federal Register for 34 CFR 74. View below or at eCFR (GPOAccess)
§ 74.52 Financial reporting.
(a) The following forms or other forms as may be approved by OMB are authorized for obtaining financial information from recipients.
(1) SF-269 or SF-269A—Financial Status Report.
(i) Recipients are required to use the SF-269 or SF-269A to report the status of funds for all nonconstruction projects or programs. The Secretary may not require the SF-269 or SF-269A when, the Secretary determines that SF-270—Request for Advance or Reimbursement, or SF-272—Report of Federal Cash Transactions—provides adequate information to meet the Department's needs, except that a final SF-269 or SF-269A is required at the completion of the project when the SF-270 is used only for advances.
(ii) The Secretary prescribes whether the report is on a cash or accrual basis. If the Secretary requires accrual information and the recipient's accounting records are not normally kept on the accrual basis, the recipient is not required to convert its accounting system, but shall develop accrual information through best estimates based on an analysis of the documentation on hand.
(iii) The Secretary determines the frequency of the Financial Status Report for each project or program, considering the size and complexity of the particular project or program. However, the report is not required more frequently than quarterly or less frequently than annually. A final report is required at the completion of the agreement.
(iv) The Secretary requires recipients to submit the SF-269 or SF-269A (an original and no more than two copies) no later than 30 days after the end of each specified reporting period for quarterly and semi-annual reports, and 90 calendar days for annual and final reports. Extensions of reporting due dates may be approved by the Secretary upon request of the recipient.
(2) SF-272—Report of Federal Cash Transactions.
(i) When funds are advanced to recipients the Secretary requires each recipient to submit the SF-272 and, when necessary, its continuation sheet, SF-272a. The Secretary uses this report to monitor cash advanced to recipients and to obtain disbursement information for each agreement with the recipients.
(ii) The Secretary may require forecasts of Federal cash requirements in the “Remarks” section of the report.
(iii) When practical and deemed necessary, the Secretary may require recipients to report in the “Remarks” section the amount of cash advances received in excess of three days. Recipients shall provide short narrative explanations of actions taken to reduce the excess balances.
(iv) Recipients shall be required to submit not more than the original and two copies of the SF-272 15 calendar days following the end of each quarter. The Secretary may require a monthly report from those recipients receiving advances totaling $1 million or more per year.
(v) The Secretary may waive the requirement for submission of the SF-272 for any one of the following reasons:
(A) When monthly advances do not exceed $25,000 per recipient, provided that advances are monitored through other forms contained in this section;
(B) If, in the Secretary's opinion, the recipient's accounting controls are adequate to minimize excessive Federal advances; or
(C) When the electronic payment mechanisms provide adequate data.
(b) When the Secretary needs additional information or more frequent reports, the following shall be observed:
(1) When additional information is needed to comply with legislative requirements, the Secretary shall issue instructions to require recipients to submit information under the “Remarks” section of the reports.
(2) When the Secretary determines that a recipient's accounting system does not meet the standards in § 74.21, additional pertinent information to further monitor awards may be obtained upon written notice to the recipient until the system is brought up to standard. The Secretary, in obtaining this information, complies with the report clearance requirements of 5 CFR part 1320.
(3) The Secretary may shade out any line item on any report if not necessary.
(4) The Secretary may accept the identical information from the recipients in machine readable format or computer printouts or electronic outputs in lieu of prescribed formats.
(5) The Secretary may provide computer or electronic outputs to recipients when these outputs expedite or contribute to the accuracy of reporting.
(Approved by the Office of Management and Budget under control number 1880-0513)
(Authority: 20 U.S.C. 1221e-3, 3474; OMB Circular A-110)
[59 FR 34724, July 6, 1994, as amended at 60 FR 6660, Feb. 3, 1995]

Title 34 published on 2014-07-01

The following are only the Rules published in the Federal Register after the published date of Title 34.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-12-19; vol. 79 # 244 - Friday, December 19, 2014
    1. 79 FR 75872 - Federal Awarding Agency Regulatory Implementation of Office of Management and Budget's Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, AGENCY FOR INTERNATIONAL DEVELOPMENT, NATIONAL SCIENCE FOUNDATION, CORPORATION FOR NATIONAL AND COMMUNITY SERVICE, NATIONAL ARCHIVES AND RECORDS ADMINISTRATION, DEPARTMENT OF TREASURY, NATIONAL ENDOWMENT FOR THE ARTS, DEPARTMENT OF TRANSPORTATION, GULF COAST ECOSYSTEM RESTORATION COUNCIL, DEPARTMENT OF HEALTH AND HUMAN SERVICES, EXECUTIVE OFFICE OF THE PRESIDENT, DEPARTMENT OF LABOR, ENVIRONMENTAL PROTECTION AGENCY, INSTITUTE OF MUSEUM AND LIBRARY SERVICES, DEPARTMENT OF DEFENSE, NATIONAL ENDOWMENT FOR THE HUMANITIES, NATIONAL AERONAUTICS AND SPACE ADMINISTRATION, DEPARTMENT OF THE INTERIOR, DEPARTMENT OF COMMERCE, DEPARTMENT OF AGRICULTURE, DEPARTMENT OF ENERGY, DEPARTMENT OF HOMELAND SECURITY, SOCIAL SECURITY ADMINISTRATION, DEPARTMENT OF STATE, DEPARTMENT OF VETERANS AFFAIRS, DEPARTMENT OF EDUCATION, DEPARTMENT OF JUSTICE, SMALL BUSINESS ADMINISTRATION, National Institute of Food and Agriculture, Rural Utilities Service, Rural Housing Service, Office of the Chief Financial Officer, Farm Service Agency, Office of National Drug Control Policy, Office of Management and Budget, Commodity Credit Corporation, Rural Business-Cooperative Service, Federal Emergency Management Agency
      Interim final rule.
      Effective date: This interim final rule is effective on December 26, 2014. The incorporation by reference of certain publications listed in the rule is approved by the Director of the Federal Register as of December 26, 2014. Implementation dates: For grants authorized under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, this rule is applicable for emergency or major disaster declarations issued on or after December 26, 2014. For non-Federal entities that are nonprofit organizations or institutions of higher education (IHEs), there is a one-year grace period for implementation of the procurement standards in 2 CFR 200.317 through 200.326. As will be detailed in the 2015 OMB Compliance Supplement, non-Federal entities choosing to delay implementation for the procurement standards will need to specify in their documented policies and procedures that they continue to comply with OMB circular A-110 for one additional fiscal year which begins after December 26, 2014. Comment date: To be assured of consideration, comments must be received by OMB electronically through www.regulations.gov no later than midnight Eastern Standard Time (E.S.T.) on February 17, 2015.
      2 CFR Parts 1, 25, 170, 180, and 200

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United States Code

Title 34 published on 2014-07-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 34 CFR 74 after this date.

  • 2014-12-19; vol. 79 # 244 - Friday, December 19, 2014
    1. 79 FR 75872 - Federal Awarding Agency Regulatory Implementation of Office of Management and Budget's Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, AGENCY FOR INTERNATIONAL DEVELOPMENT, NATIONAL SCIENCE FOUNDATION, CORPORATION FOR NATIONAL AND COMMUNITY SERVICE, NATIONAL ARCHIVES AND RECORDS ADMINISTRATION, DEPARTMENT OF TREASURY, NATIONAL ENDOWMENT FOR THE ARTS, DEPARTMENT OF TRANSPORTATION, GULF COAST ECOSYSTEM RESTORATION COUNCIL, DEPARTMENT OF HEALTH AND HUMAN SERVICES, EXECUTIVE OFFICE OF THE PRESIDENT, DEPARTMENT OF LABOR, ENVIRONMENTAL PROTECTION AGENCY, INSTITUTE OF MUSEUM AND LIBRARY SERVICES, DEPARTMENT OF DEFENSE, NATIONAL ENDOWMENT FOR THE HUMANITIES, NATIONAL AERONAUTICS AND SPACE ADMINISTRATION, DEPARTMENT OF THE INTERIOR, DEPARTMENT OF COMMERCE, DEPARTMENT OF AGRICULTURE, DEPARTMENT OF ENERGY, DEPARTMENT OF HOMELAND SECURITY, SOCIAL SECURITY ADMINISTRATION, DEPARTMENT OF STATE, DEPARTMENT OF VETERANS AFFAIRS, DEPARTMENT OF EDUCATION, DEPARTMENT OF JUSTICE, SMALL BUSINESS ADMINISTRATION, National Institute of Food and Agriculture, Rural Utilities Service, Rural Housing Service, Office of the Chief Financial Officer, Farm Service Agency, Office of National Drug Control Policy, Office of Management and Budget, Commodity Credit Corporation, Rural Business-Cooperative Service, Federal Emergency Management Agency
      Interim final rule.
      Effective date: This interim final rule is effective on December 26, 2014. The incorporation by reference of certain publications listed in the rule is approved by the Director of the Federal Register as of December 26, 2014. Implementation dates: For grants authorized under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, this rule is applicable for emergency or major disaster declarations issued on or after December 26, 2014. For non-Federal entities that are nonprofit organizations or institutions of higher education (IHEs), there is a one-year grace period for implementation of the procurement standards in 2 CFR 200.317 through 200.326. As will be detailed in the 2015 OMB Compliance Supplement, non-Federal entities choosing to delay implementation for the procurement standards will need to specify in their documented policies and procedures that they continue to comply with OMB circular A-110 for one additional fiscal year which begins after December 26, 2014. Comment date: To be assured of consideration, comments must be received by OMB electronically through www.regulations.gov no later than midnight Eastern Standard Time (E.S.T.) on February 17, 2015.
      2 CFR Parts 1, 25, 170, 180, and 200