§ 66.41
(ii) Requesting advances or reim-
bursements when letters of credit are
not used.
(2) Grantees need not apply the forms
prescribed in this section in dealing
with their subgrantees. However,
grantees shall not impose more burden-
some requirements on subgrantees.
(3) Grantees shall follow all applica-
ble standard and supplemental Federal
agency instructions approved by OMB
to the extend required under the Paper-
work Reduction Act of 1980 for use in
connection with forms specified in
paragraphs (b) through (e) of this sec-
tion. Federal agencies may issue sub-
stantive supplementary instructions
only with the approval of OMB. Federal
agencies may shade out or instruct the
grantee to disregard any line item that
the Federal agency finds unnecessary
for its decisionmaking purposes.
(4) Grantees will not be required to
submit more than the original and two
copies of forms required under this
part.
(5) Federal agencies may provide
computer outputs to grantees to expe-
dite or contribute to the accuracy of
reporting. Federal agencies may accept
the required information from grantees
in machine usable format or computer
printouts instead of prescribed forms.
(6) Federal agencies may waive any
report required by this section if not
needed.
(7) Federal agencies may extend the
due date of any financial report upon
receiving. a justified request from a
grantee.
(b) Financial Status Report—(1) Form.
Grantees will use Standard Form 269 or
969A, Financial Status Report, to re-
port the status of funds for all non-
construction grants and for construc-
tion grants when required in accord-
ance with §66.41(e)(2)Gii).
(2) Accounting basis, Each grantee will
report program outlays and program
income on a cash or accrual basis as
prescribed by the awarding agency. if
the Federal agency requires accrual in-
formation and the grantee’s accounting
records are not normally kept on the
accrual basis, the grantee shall not be
required to convert its accounting sys-
tem but shall develop such accrual in-
formation through and analysis of the
documentation on hand.
28 CFR Ch. | (7-1-10 Edition)
(3) Frequency. The Federal agency
may prescribe the frequency of the re-
port for each project or program. How-
ever, the report will not be required
more frequently than quarterly. If the
Federal agency does not specify the
frequency of the report, it will be sub-
mitted annually. A final report will be
required upon expiration or termi-
nation of grant support.
(4) Due date. When reports are re-
quired on a quarterly or semiannual
hasis, they will be due 30 days after the
reporting period. When required on an
annual basis, they will be due 90 days
after the grant year. Final reports will
be due 90 days after the expiration or
termination of grant support.
(c) Federal Cash Transactions Report—
(1) Form. (i) For grants paid by letter or
credit, Treasury check advances or
electronic transfer of funds, the grant-
ee will submit the Standard Form 272,
Federal Cash Transactions Report, and
when necessary, its continuation sheet,
Standard Form 272a, unless the terms
of the award exempt the grantee from
this requirement.
(ii) These reports will be used by the
Federal agency to monitor cash ad-
vanced to grantees and to obtain dis-
bursement or outlay information for
each grant from grantees. The format
of the report may be adapted as appro-
priate when reporting is to be accom-
plished with the assistance of auto-
matic data processing equipment pro-
vided that the information to be sub-
mitted is not changed in substance.
(2) Forecasts of Federal cash require-
ments. Forecasts of Federal cash re-
quirements may be required in the
“Remarks” section of the report.
(3) Cash in hands of subgrantees. When
considered necessary and feasible by
the Federal agency, grantees may be
required to report the amount of cash
advances in excess of three days’ needs
in the hands of their subgrantees or
contractors and to provide short nar-
rative explanations of actions taken by
the grantee to reduce the excess bal-
ances.
(4) Frequency and due date. Grantees
must submit the report no later than 15
working days following the end of each
quarter. However, where an advance ei-
ther by letter of credit or electronic
transfer of funds is authorized at an
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