7 CFR 3015.83 - Federal cash transactions report.

§ 3015.83 Federal cash transactions report.
(a) Form. (1) For grants or cooperative agreements paid by letters of credit (or Treasury check advances) through any USDA payment office, the recipient shall submit to USDA a Standard Form 272, Federal Cash Transactions Report, and, when necessary, its continuation sheet, SF-272a. Recipients under the Regional Disbursing Office (RDO) system shall not be required to submit a SF-272. For these recipients, awarding agencies shall use information contained in the Request for Payment to monitor recipient cash balances and to get disbursement information.
(2) The SF-272 will be used by USDA to monitor cash advanced to recipients and to obtain disbursement or outlay information from recipients for each grant or cooperative agreement. The format of the report may be adapted, as appropriate, when reporting is to be accomplished with the assistance of automatic data processing equipment, provided that the identical information is submitted.
(b) Forecasts of Federal cash requirements. Awarding agencies may require that forecasts of Federal cash requirements be provided in the “Remarks” section of the report.
(c) Cash in hands of subrecipients or contractors. When considered necessary and feasible by the responsible USDA awarding agency, recipients may be required to:
(1) Show in the “Remarks” section of the report the amount of cash advances exceeding three days needs in the hands of their subrecipients or contractors, and
(2) Provide short narrative explanations or actions taken by the recipient to reduce such excess balances.
(d) Frequency and due date. Recipients shall submit the report no later than 15 working days following the end of each quarter. However, the USDA payment office may require recipients receiving advances of one million dollars or more per year to submit a report within 15 working days following the end of each month. Awarding agencies may waive the requirement for submission of the SF-272 when monthly advances do not exceed $10,000 per recipient, provided that such advances are monitored through other forms contained in this subpart, or if, in the awarding agency's opinion, the recipient's accounting controls are adequate to minimize excessive Federal advances.

Title 7 published on 2014-01-01

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Executive Order ... 12372