[Code of Federal Regulations]

[Title 7, Volume 15]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 7CFR3015.83]



[Page 117]

 

                          TITLE 7--AGRICULTURE

 

                         CHAPTER XXX--OFFICE OF

                      THE CHIEF FINANCIAL OFFICER,

                        DEPARTMENT OF AGRICULTURE

 

PART 3015_UNIFORM FEDERAL ASSISTANCE REGULATIONS--Table of Contents

 

               Subpart J_Financial Reporting Requirements

 

Sec. 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.