Major changes between the SF-269-A and SF-425

Federal Transit Administration

49 CFR 18.41 (b) Financial Status Report (1) Form. Grantees will use Standard Form 269 or

269A, Financial Status Report, to report the status of funds for all nonconstruction grants and for construction grants when required in accordance with §18.41(e)(2)(iii). On 10/1/09, the SF-425 replaced the SF 269 / 269(a)

49 CFR 18.41(e)(2)(iii) The Federal agency may substitute the Financial

Status Report specified in §18.41(b) for the Outlay Report and Request for Reimbursement for Construction Programs.

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Primary source of financial information for FTA Report actual financial situation of the grants

FTA monitors the status of all open grants on a quarterly basis

Key indicators of potential problems Excessive unobligated balances Obligated more than 5 years ago and/or have

not had a disbursement within the past 18 months

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FTA C 5010.1D Chapter III, Section 3(b)

Financial Status ReportsPurpose Provide current, complete, and accurate financial picture of the grant.

Submitted electronically in TEAM

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Prepare report on accrual basis of accounting – except for the Cash on Hand section

Include financial activities for program of projects, including any operating assistance

Submit report in TEAM no later than 30 days after the end of each reporting period

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Major changes for SF-425 in TEAM Federal Cash Reporting Reporting of Program Income ‘Remarks and Comments’ tab

changed to ‘Remarks and Certification’ tab Certification

Added language for compliance Mandatory check box next to the above language

for the user to show that they have agreed

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Accrual Basis of Accounting Income is recognized when earned instead of

when received Expenditures are recognized when incurred

instead of when paid

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Cash Receipts The cumulative amount of actual cash received

from the FTA as of the reporting period end date.

Cash Disbursements The cumulative amount of Federal fund

disbursements as of the reporting period end date. Disbursements are the sum of actual cash disbursements for direct charges for goods and services, the amount of indirect expenses charged to the award, and the amount of payments made to subrecipients and contractors.

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Expenditures Total project costs incurred on the accrual

basis of Accounting. The sum of cash disbursements for direct

charges for property and services; The amount of indirect expense incurred; The amount of in-kind contributions Net increase or decrease in Accounts Payable or

Accrued Expenses

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Accounts Payable / Accrued Expenses Amount for goods and services received but

not yet paid for

Unliquidated Obligations Grantee binding commitments that have been

entered into for goods and services that have not been received.

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Program Income Gross income received by the grantee or subgrantee

directly generated by a grant supported activity, or Earned only as a result of the grant agreement during

the grant period. Examples

income from fees for services performed, from the use or rental of real or personal property

acquired with grant funds, from the sale of advertising and concessions, and from the sale of commodities or items fabricated

under a grant agreement.

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When the Common Grant Rule passed in March 1988, FTA obtained a deviation from following the different methods of using program income

49 CFR part 18.25(g)(5) states: UMTA (now FTA) grantees may retain program income for allowable capital or operating expenses.

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Program Income does not include interest on grant funds, rebates, credits, discounts, refunds, etc. and

interest earned on any of them. sale of assets - proceeds from the sale of real

property or equipment will be handled in accordance with the requirements of §§ 49 CFR parts 18.31 and 18.32.

farebox revenues must be deducted from Eligible Operating

Costs before applying for Operating Assistance

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Please contact your regional office for assistance

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