Federal Financial Management Standards
- Functions and Activities
Payment Processing - Grant Payments (FFM.030.080)
Record requests for grant payment;
Match grant payment requests to obligating documents;
Route grant payment requests for approval by appropriate party (as needed);
Generate payment transactions;
Resolve payment issues;
Record credits and payment adjustments;
Includes processing payments for incurred expenses and payments in advance;
Includes capturing grant payment information as required to support the Digital Accountability and Transparency Act of 2014 (DATA Act) reporting
- Federal Financial Management System Requirements (FFMSR)
Establishing Payables (FFMSR 2.2.1)
Capture federal government unique recipient information [for example, federal vendor registration attributes, such as Data Universal Numbering System (DUNS) and the type of relationship with the U.S. Federal Government, grant recipient information] consistent with that required to support the payment management and invoice processing activities defined in 5 CFR 1315, the Federal Acquisitions Regulation (FAR), and the TFM.
Capture federal government unique payment information (for example, appropriation and fund) to support payment reports consistent with the TFM.
Provide budgetary authority and resource data required to post GL transactions consistent with USSGL transaction codes, transaction categories (for example, funding) and transaction subcategories (for example, budgetary resources other than collections) as defined in the TFM.
Provide payable data required to post GL transactions consistent with USSGL transaction codes, transaction categories (for example, disbursements and payables), and transaction subcategories (for example, payments/purchases) as defined in the TFM.
Making Payments (2.2.2)
Capture federal government unique invoice prompt payment information (for example, invoice receipt date, discount, applicable interest rate determined per government formula, and accelerated payment) to support payment of invoices as specified in the CFR
Determine disbursement terms and amounts in accordance with the terms of the contract or agreement, and based on determination of invoice term, payment date, interest or penalty applicable, and amount as specified in the CFR.
Provide certified payment transaction information for the disbursing office to make disbursements as specified in the TFM.
Agencies for which Treasury does not disburse (for example, the Department of Defense): Provide payment disbursement forms that include payment transactions consistent with Government Accountability Office (GAO) policy and procedures and as specified in the TFM.
- Use Cases
- Other Resources
This page was last updated on March 19, 2021.