Compliance and Monitoring
Under 2 CFR 200, recipients are required to monitor this regularly to avoid overspending or underutilization of federal awards.
What is budget versus actual expenditures?
The type of audit required by 2 CFR 200 Subpart F for recipients expending $750,000 or more in federal funds annually.
Required contract clauses for FTA-funded procurements include this clause to ensure compliance with federal wage rates
What is the Davis-Bacon Act clause?
FTA reviews procurement practices during these formal assessments to ensure compliance with federal procurement regulations.
What are Triennial Reviews?
The minimum period procurement records must be retained after the final expenditure report under FTA rules.
What is three years?
This section of 2 CFR 200 requires recipients to have written policies and procedures for procurement.
What is 2 CFR 200.318?
Costs identified during audits as being unallowable or lacking sufficient documentation under federal rules.
What are questioned costs?
FTA procurement contracts must include this clause, prohibiting certain lobbying activities.
What is the Lobbying Certification Clause?
During FTA reviews, documentation must demonstrate compliance with this foundational procurement standard.
What is competitive procurement?
This document details the specific requirements, evaluation criteria, and instructions provided to potential bidders.
What is a solicitation?
The required standard to determine potential problems and high-risk awards under 2 CFR 200.
What is risk assessment?
The federal audit clearinghouse maintains these, submitted by entities that expend substantial federal funds.
What are audit reports?
This clause is required to ensure products procured are manufactured primarily in the United States.
What is the Buy America Clause?
This specific FTA review focuses solely on procurement systems and procedures for transit agencies.
What is a Procurement System Review (PSR)?
Agencies must maintain this written justification whenever non-competitive procurement methods are used.
What is a sole source justification?
Agencies must retain financial records related to federal grants for at least this many years after final reporting.
What is three years?
The financial concept defined by 2 CFR 200 as total direct costs minus certain exclusions, used in indirect cost calculations.
What is Modified Total Direct Cost (MTDC)?
FTA-funded contracts exceeding $100,000 must include this clause protecting against contract disputes or breaches.
What is the Termination for Cause and Convenience clause?
The outcome of an FTA procurement compliance review that identifies areas requiring corrective actions.
What is a finding?
This document must be completed and maintained to demonstrate the rationale behind selecting a specific contractor.
What is an evaluation matrix or evaluation summary?
These controls, mandated by 2 CFR 200.303, are required to ensure accurate financial reporting and compliance with federal laws.
What are internal controls?
Under 2 CFR 200, this section specifies the responsibilities of agencies in monitoring subrecipients.
What is 2 CFR 200.332 (Subrecipient Monitoring)?
The required clause that ensures contractors certify they are not listed as suspended or debarred on federal exclusion lists.
What is the Debarment and Suspension Certification clause?
This FTA review examines whether transit agencies properly accounted for and documented indirect costs under federal grants.
What is an Indirect Cost Review?
Required records showing vendors who received notice of procurement opportunities.
What is a bidder/proposer mailing list?