President Barack Obama Signs The DATA Act

Friday evening, President Barack Obama signed S. 994, commonly known as the Digital Accountability and Transparency (DATA) Act.

After unanimous approval by both the Senate and the House of Representatives, the bill’s signing marks a giant step forward for government transparency, opening up federal spending data that was once locked behind disparate systems and formats. 

A high-level overview is as follows:

  • The DATA Act mandates the Treasury Department and the Office of Management and Budget (OMB) to create government-wide data standards for grant, contract and budget reporting.These will rollout over the next few years.

  • Grant managers may not see immediate changes to theirgrant reporting processes; however, down the road, there may be a single portal for reporting by grantees and contractors to the U.S. government.

  • The technology is already available to employ big data analytics and compliance automation once standards are in place. Proactive grant recipients will be able to reap capacity building and compliance benefits early on.

HPA Portfolio company StreamlinkSoftware can help implement the Data Act into your organization.  What comes next? Here is how their product, AmpliFund Can Help

Streamlink has found that only 22% of nonprofits are “very confident’ in their organization’s understanding of changing funding requirements. Proper technology use ensures your organization has the necessary infrastructure to abide by new rules and regulations.

Streamlink’s grant management software, AmpliFund, was used in the initial pilot project that tested the feasibility of grant reporting standardization across government agencies. Schedule a demo to learn how it can help you meet DATA Act requirements.

 

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