XBRL US submitted a comment letter and provided feedback on 426 standardized concepts in response to the President’s Management Agenda Draft Federal Grants Management Data Standards for Feedback. The Results-Oriented Accountability for Grants Cross Agency Priority Goal Team is soliciting feedback on these standards to develop and implement core grants management data elements and modernize information technology solutions. The goal of the program is a future state where grants data are interoperable, there are fewer internal and public-facing grants management systems, and Federal awarding agencies and recipients leverage data to successfully implement a risk-based, data-driven approach to managing Federal grants.
Key recommendations made in our letter:
Adopt a single, widely used, nonproprietary, open data standard that can easily adapt to changes in technology and changes in reporting requirements, with minimal marketplace disruption, and that can appropriately handle the complexities of all data types required to be reported.
Add financial data standards for government and non-profit reporting entities to reach the CAP Group’s Strategy 3, ‘Manage Risks’, which identifies financial risk as a potential cause of poor grantee performance.