Grant Programs: Accrual Estimates
For questions about this project, email fasab@fasab.gov.
Project Objective:
To address concerns with grant accounting, particularly cost/benefit considerations regarding the year-end grant accrual process.
Project History (Reverse Chronology)
June 23-24, 2010
Staff presented the AAPC’s proposed Technical Release, planned for issuance in August 2010, to the Board.
March 22, 2010
An Exposure Draft was issued for a proposed Technical Release, “Accrual Estimates for Grant Programs” with comments requested by April 22, 2010.
Exposure Draft: “Accrual Estimates for Grant Programs” (PDF)
January 20, 2010
The AAPC accepted the project for development as a proposed Technical Release.
December 16, 2009
A project package was sent to the FASAB’s Accounting and Auditing Policy Committee (AAPC) for consideration at the January 20, 2010 AAPC meeting.
AAPC Issue Paper – December 16, 2009 (PDF)
August 13, 2009
- A Task Force consisting of representatives from federal agencies and independent accounting and consulting firms assisted FASAB staff in identifying areas where guidance would be helpful. Specifically, members indicated a need for guidance regarding:
- appropriate reliance on the best available data in light of the often limited access grantee data,
- situations where no historical data is available such as new or modified grant programs,
- assessment about materiality and whether it is appropriate to focus on the statement of net cost when making such assessments, and
- cost-effective means of validating previous estimates.
April 28-30, 2009
- A series of roundtables in April 2009 indicated that guidance for determining whether estimates of advances and payables for grant programs are reasonable would be helpful for agencies. Specifically, agencies indicated a need for guidance supporting cost-effective development of reasonable estimates.