The Federal Funding Accountability and Transparency Act (FFATA) of 2006 requires that the Office of Management and Budget (OMB) establish a single searchable website, accessible to the public at no cost, which includes for each Federal award:
1. the name of the entity receiving the award;
2. the amount of the award;
3. information on the award including transaction type, funding agency, etc;
4. the location of the entity receiving the award; and
5. a unique identifier of the entity receiving the award.
USASpending.gov was first launched in December 2007 to fulfill these requirements. Prime award information shown on the website is provided by Federal Agencies. The website also displays first-tier sub-award data (subcontracts and subgrants). USASpending.gov receives and displays data pertaining to obligations (amounts awarded for federally sponsored projects during a given budget period), not outlays or expenditures (actual cash disbursements made against each project).