Report of federal cash transactions Clause Samples
The "Report of federal cash transactions" clause requires recipients of federal funds to regularly document and submit detailed accounts of how federal cash is received, used, and managed. Typically, this involves periodic reporting—such as monthly or quarterly—where the recipient provides information on cash receipts, disbursements, and balances related to the federal award. This clause ensures transparency and accountability in the handling of federal funds, helping to prevent misuse and allowing federal agencies to monitor compliance with financial requirements.
Report of federal cash transactions. (1) When funds are advanced to grantees through letters of credit or with Treasury checks, each grantee shall submit a report of Federal Cash Transactions. The Bureau shall use this report to monitor cash advanced to grantees and to obtain disbursement or out- lay information for each grant or project from the grantees.
(2) The grant agreement may require fore- casts of Federal cash requirement in the Re- marks section of the report.
(3) When practical and deemed necessary, the Bureau may require grantees to report in the Remarks section the amount of cash in excess of three days’ requirements in the hands of subgrantees or other secondary re- cipients and to provide short narrative ex- planations of actions taken by the grantees to reduce the excess balances.
(4) The Bureau shall accept the identical information from the grantees in a machine- usable format in lieu of the Report of Fed- eral Cash Transactions.
(5) Grantees shall submit the original and two copies of the Report of Federal Cash Transactions no later than 15 working days following the end of each quarter. For those grantees receiving annual grants totalling one million dollars or more, the Bureau shall require a monthly report.
(6) The Bureau shall waive the requirement for submission of a Report of Federal Cash Transactions when monthly advances do not exceed $10,000 per grantee provided that such advances are monitored through other forms contained in this appendix or the grantee’s accounting controls are adequate to mini- ▇▇▇▇ excessive Federal advances.
Report of federal cash transactions. To include a Standard Form 272 and, when necessary, its continuation sheet, Standard Form 272A, in accordance with OMB Circular A-110, Subpart C, Section 52.
Report of federal cash transactions. (1) When funds are advanced to grantees through letters of credit or with Treasury checks, each grantee shall submit a report of Federal Cash Transactions. The Bureau shall use this report to monitor cash advanced to grantees and to obtain disbursement or out- lay information for each grant or project from the grantees.
(2) The grant agreement may require fore- casts of Federal cash requirement in the Re- marks section of the report.