New FAQs from OMB

OMB has some new information on their FAQ as of January 7, under clarification of the December 18, 2009 guidance. Here is basically what the clarification says:

1. What information are prime recipients and subrecipients with delegated reporting responsibility required to report for vendor payments?
"A: All vendor payments must be reported. Individual payments greater than $25,000 must be reported separately with the following data elements for each payment:

◦Vendor identity either through DUNS number OR the Vendor Name and the zip + 4 digit code of the vendor’s headquarters.
◦Payment description and payment amount (required to be reported by prime recipients; optional for subrecipients)"

This one goes on to talk about reporting in the aggreagate or individually.

The other questions all deal with reporting, the $25,000 threshhold, and multiple quarters. If you need to know this, check it out. If something still does not make sense, let me know, and I'll see if I can't get an answer for you.