Section 4284.960 - [Effective 11/15/2024] Reporting requirementsRecipients are required to submit financial reports and performance reports on a semiannual basis. Semiannual periods end on March 31st and September 30th. Reports are due 30 calendar days after the end of the semiannual period. A final financial report and performance report must also be submitted within 120 days after the expiration or termination of the grant. Failure to submit a performance report within the specified timeframes may result in the Agency withholding grant funds.
(a)Financial reports. Form SF-425, "Federal Financial Report," must be used for financial reporting. Financial reports must also include evidence of receipt of Matching Funds. Recipients must complete the Project per the terms and conditions specified in the approved work plan and budget, the Financial Assistance Agreement, and Letter of Conditions. Recipients will expend funds only for eligible purposes and will be monitored by the Agency for compliance. Recipients must maintain a financial management system and property and procurement standards in accordance with 2 CFR parts 400 through 499.(b)Performance reports. All performance reports must include a discussion on the performance benchmarks suggested in the application to determine whether the primary goals and objectives proposed in the approved work plan and budget were accomplished during the reporting period. In the section of the report that compares actual accomplishments to the objectives for that reporting period, objectives should be reported by specific task breakdown as described in the approved work plan and budget.(1) For Working Capital Grant Projects, final performance reports must include the following metrics: (i) Expansion of customer base as a result of the Project;(ii) Increased revenue returned to the Producer as a result of the Project; and(iii) Jobs created or saved as a result of the Project.(2) For all Projects, we may request additional information, including but not limited to, the following:(i) Information that will enable evaluation of the economic impact of program awards, such as: (A) Business starts and clients served; and(B) Data associated with Producer market expansion, new market penetration, and changes in customer base or revenues.(ii) Information that would promote greater understanding of the key determinants of the success of individual Projects or inform program administration and evaluation, such as:(A) The Producer's experience related to financial management, budgeting, and running a business enterprise;(B) The nature of, and advantages or disadvantages of, supply chain arrangements or equitable distribution of rewards and responsibilities for Mid-Tier Value Chain Projects; and(C) Recommendations from Beginning Farmers or Ranchers, Socially-Disadvantaged Farmers or Ranchers, and/or Veteran Farmers or Ranchers.(iii) Information that would inform or enable the aggregation of data for program administration or evaluation purposes.(3) If any special conditions have been placed on the use of award funds, compliance with those conditions must be discussed in each performance report.