DATA Act Implementation

PURPOSE:

• To examine the Department of the Treasury’s and the Office of Management and Budget’s (OMB) efforts to implement the Digital Accountability and Transparency Act (DATA Act).

BACKGROUND:

• Enacted on May 9, 2014, the DATA Act modernizes federal spending data by requiring agencies to report detailed, program level financial data in a data standard.
• Within a year of enactment, the Administration was required to:
  • Establish government-wide data standards;
  • Publish guidance to agencies on how to report financial data using those standards; and
  • Establish a pilot program to evaluate and develop recommendations to streamline recipient reporting for all federal awards.

• The DATA Act also authorizes Treasury to establish a data analytics center, and transfer all assets that support the operations and activities of the Recovery Accountability and Transparency Board’s Recovery Operations Center (ROC).
• To exercise this authority and preserve the analytic capabilities of the ROC, Treasury would need to complete the transfer before the ROC terminates on September 30, 2015.
• It remains unclear the extent to which Treasury plans to transfer the ROC assets or establish a data analytics center.