The Federal Accounting Standards Advisory Board. A Call to Action How You Can Help to Advance Efficient and Effective Reporting on Federal Grant Programs National Grants Management Association March 10, 2010. Disclaimer.
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The Federal AccountingStandards Advisory Board
A Call to Action
How You Can Help to Advance Efficient and Effective Reporting on Federal Grant Programs
National Grants Management Association
March 10, 2010
Views expressed are those of the speaker. The Board expresses its views in official publications.
U.S. Federal Government Accounting Prior to FASAB:
Federal Financial Management
Federal Accounting Standards
Advisory Board (FASAB)
Accounting and Auditing
Policy Committee (AAPC)
(Former GASB Chair)
Bios available at www.fasab.gov
(Current as of March 10, 2010)
(FASAB Executive Director)
Department of the Treasury
(Office of Management and Budget)
Naval Audit Service
Frank Synowiec, Jr.
(Government Accountability Office)
Department of Agriculture
Department of the Interior
Donjette L. Gilmore
Department of Defense
Government Accountability Office
441 G Street, NW
Washington, DC 20548
Room 7C13 (Staats Briefing Room)
Agencies must report amounts due to or from grantees based upon estimates of eligible expenses that grantees have incurred as of the reporting date.
Scope of this project:
Primary Issue Identified:
Guidance to support cost-effective development of reasonable estimates for grant accruals for:
Task Force Working Group and FASAB staff developed draft Exposure Draft for a proposed AAAPC Technical Release (TR)
Planned Future Milestones:
Primary Goal for this project:
Authoritative guidance (formal FASAB/AAPC issuance) that supports:
Why do we need your help?
Preview of Exposure Draft
Topics addressed in the ED:
Preparing accrual estimates:
Proposed guidance for two different situations:
Preparing accrual estimates for grant programs
What can agencies do in the absence of sufficient reliable historical data?
Proposed guidance: Use the best available data at the time the estimates are made. Suggested sources include:
Validating accrual estimates for grant programs (“look-back”)
Display: “to net or not to net”?
Proposal: When estimates are prepared on an aggregate (“top-down”) level,
Recommended procedures and documentation, for example:
Training and Monitoring of Grantees
Suggested (not required) methods for training grantees such as:
Three possible options:
Eileen W. Parlow