August 24, 2017  |  Finance

The Digital Accountability and Transparency Act (DATA Act)

The Digital Accountability and Transparency Act (DATA Act) was signed into law by President Obama in 2014. The act draws on lessons that were learned from the Federal Funding Accountability and Transparency Act of 2006 and the American Recovery and Reinvestment Act of 2009.

usa-spending-govThe main goals of the DATA Act are to set data standards that improve the quality of spending data and create a data exchange to codify this data in standard computer readable formats.

Once the DATA Act is fully implemented in May of 2018, there will be a single place (USASpending.gov) that will house information about the broader spending life cycle for the entire federal government.

The public will be able to:

  • Track dollars spent against the dollars appropriated by Congress
  • Track overall spending by high-level categories such as personal compensation and contracts
  • Find out how much money is available in a Treasury account

You can learn more about the DATA Act by visiting http://fedspendingtransparency.github.io/index.html

About the Author

David Morrison

David Morrison

Dave leads Markon’s financial management practice and is also the market lead for our Intelligence Community finance and consulting business. He has provided project management, financial consulting, and IT services to clients across the Intelligence Community. Dave began his career as a Contracting Specialist managing an IDIQ contract consisting of 50+ separate delivery orders valued at more than $100 million. In 2013, he was named Markon's Employee of the Year. Dave earned his MBA from Georgetown University and a BS in Finance with minors in Economics and Management Information Systems from the University of Delaware.