On September 26, President Bush signed “The Federal Funding Accountability And Transparency Act of 2006” (S. 2590) into law. The law creates a searchable database that will enable the public with easy access to information on federal spending. The Office of Management and Budget will be required to establish and maintain the free, searchable public website that will list all entities receiving federal funds, including the name of each entity, the amount of federal funds the entity has received annually by program and the location of the entity. The database will include all government contracts, loans and grants with the exception of individual transactions below $25,000.
OFCCP Director Charles James mentioned this database in his remarks at the Annual Industry Liaison Group National Conference last August. James indicated that this new system would significantly improve OFCCP’s ability to determine who is a federal contractor and thus establish jurisdiction for compliance audits.
The database will come online January 1, 2008.