The Grant Reporting Efficiency and Agreements Transparency Act of 2018 (GREAT Act) has passed the Senate and now awaits House approval before making its way to the Whitehouse for the President’s signature. The legislation would require the executive branch to adopt a standardized data structure for the information grantees must report to agencies by creating a comprehensive and standardized data structure, or “taxonomy,” covering core data elements reported by recipients of federal awards, including both grant and cooperative agreements. The legislation would essentially require reporting of grant financial data to be reported in an electronic format using the developed data standards. Of note is a provision that would amend the Single Audit Act to require single audits and audit-related information to be reported in a form consistent with the data standards established by the act.

The GREAT Act directs the executive branch to adopt a standardized data structure for the information grantees must report to agencies by:

• Requiring the creation of a comprehensive and standardized data structure, or “taxonomy,” covering all data elements reported by recipients of federal awards, including both grants and cooperative agreements.
• Tasking the director of the U.S. Office of Management and Budget to designate a standard-setting agency with implementation.
• Within two years: Establishing government-wide data standards for information related to federal awards reported by recipients of federal awards.
• Requiring the data standards to:

1. Render grant reports fully searchable, machine readable and non-proprietary.
2. Align with standards maintained by voluntary consensus bodies.
3. Be consistent with applicable accounting principles.
4. Incorporate the data standards already established for federal spending information under the Federal Funding Accountability and Transparency Act (31 U.S.C. 6101)

• Within three years: Issuing guidance to grantmaking agencies on how to leverage new technologies and implement the new data standards into existing reporting practices with minimum disruption.
• Requiring each grantmaking agency to begin collecting grant reports using the new data standards within one year of providing guidance.
• Requiring the evaluation of unique and non-proprietary identifiers for federal awards and entities receiving federal awards.
• Amending the Single Audit Act to provide for grantee audits and audit related information to be reported in an electronic format consistent with the data standards (within 3 years issue guidance on audit related information).
• Requiring consultation with federal grant recipients and organizations representing grant recipients including state and local governments.
• Within five years: Publishing grant reporting information, once transformed into open data, on a government-wide website, such as the existing grants.gov portal.
• Providing exceptions and restrictions:

1. No personally-identifiable or otherwise sensitive information will be published.
2. Information not subject to disclosure under the Freedom of Information Act (Title 5, Section 552) will not be publicly disclosed.
3. The OMB director to permit exceptions on a case-by-case basis.