<img src="https://ws.zoominfo.com/pixel/UN1mC4S8pYDBTzsJVYoE" width="1" height="1" style="display: none;">

Documentation Requirements for Federal Funding

    Feb 14

    Jonathan Edmundson

    Documentation requirements for federal funding can be a complex and confusing process for organizations seeking funding from the government. In order to ensure that your application is complete and meets all necessary requirements, it is important to understand the specific laws and regulations that govern the process.

    Complying with federal documentation requirements is a time-consuming process. Here are some key points to keep in mind when preparing your documents for federal funding. DTI has a unique solution that reduces your compliance requirements from days to minutes. If you're struggling to make sense of your obligations or to streamline your compliance needs, schedule a call with DTI to get started.

    • The Federal Funding Accountability and Transparency Act (FFATA) requires that all organizations receiving federal funds must report certain information to the public, including the name of the organization, the amount of funding received, and a description of the project or program for which the funding is intended.

    • The Office of Management and Budget (OMB) has issued guidelines for the preparation of budget justifications and other documents related to federal funding. These guidelines, known as OMB Circular A-122, provide detailed instructions on the format and content of these documents, and should be carefully reviewed before submitting your application.

    • The Federal Acquisition Regulation (FAR) also provides guidelines for the preparation of documents related to federal funding. The FAR is a set of rules and regulations that govern the acquisition of goods and services by the federal government, and it applies to all organizations that receive federal funding.

    • Organizations receiving federal funding must also comply with the Single Audit Act, which requires them to have an annual financial audit performed by an independent auditor. The auditor's report must be submitted along with the organization's financial statements and other documents related to the funding.

    • The government also requires organizations to submit a DUNS number, a unique identifier assigned to a business by Dun & Bradstreet, which is a data and analytics company.

    • It is important to note that all the documents submitted should be accurate and provide a clear picture of the organization and the proposed project or program, including the objectives, methods, and expected outcomes.

    • All the documents should be submitted in a timely manner and with the proper format.

    • Organizations should also be prepared to provide additional information or documents upon request from the funding agency.

    It is critical to pay attention to the details and to follow the guidelines provided by the government when preparing your documents for federal funding. By understanding the laws and regulations that govern the process and by carefully reviewing your documents before submitting them, you can increase your chances of receiving funding and ensure that your organization is in compliance with all necessary requirements.

    Complying with these requirements and others that are specific for your government source are challenging for any organization. DTI has built a custom solution that enables you to meet these requirements built off of Hyland's OnBase Document Packaging module. The solution offers users the ability to generate a single PDF document from multiple source documents. Before the package is finalized, documents and pages can be rearranged, duplicated or removed from the final output, offering runtime flexibility and a high level of customization in such a way that streamline your reporting requirements. To learn more about how our custom solution can keep you in compliance with document packaging requirements, schedule call with our subject matter expert at your convenience.

    MEET WITH JONATHAN

     

    References:

    • Federal Funding Accountability and Transparency Act (FFATA)
    • Office of Management and Budget (OMB) Circular A-122
    • Federal Acquisition Regulation (FAR)
    • Single Audit Act
    • Dun & Bradstreet (DUNS)
    Leave a reply

    Who we are

    DTI delivers customized Document Management Solutions that manage the complete life cycle of paper-intensive business processes. Improving client's business process efficiency and bottom line has been the core of our existence. We are committed to optimizing your business by transforming your paper files into actionable data.

    Get a Quote

    Similar posts

    Schedule an expert consultation today.

    Learn more about how you can enable your organization's digital transformation with solutions and services tailored to your industry. Schedule a brief, no obligation consultation with our friendly team to better understand your challenges and find the right solutions to solve them.

    SCHEDULE NOW