Recovery Act Requires Reports From Contractors Federal regulators are imposing unprecedented reporting requirements on contractors receiving funds under the Recovery Act. Interim rules published in the March 31 Federal Register require quarterly public reports from contractors on the amount of Recovery Act money they received; the goods and services delivered to the government; “a broad assessment of progress toward completion” of the project; and the number of jobs created or retained as a result of the funding. In addition, each company must provide the names and total compensation of its five highest-paid employees. The reporting requirements cover contracts for commercial items and commercially available off-the-shelf (COTS) items as well as actions under the $100,000 simplified acquisition threshold. Many of the requirements also apply to first-tier subcontractors. The government will develop an online reporting tool to be available at www.FederalReporting.gov before the first reports are due July 10. The rules implement provisions of the Recovery Act requiring transparency and accountability in spending the $787 billion appropriated by Congress to boost the economy. Contracting officers must post a description in “clear and unambiguous” language of all contracts, including task or delivery orders, worth more than $500,000. They must post an explanation for any contract that is not fixed price or that is awarded without competition. The rule says competitive set-asides for any category of small businesses do not have to be explained as long as the contracts are fixed price. Earlier guidance from the Office of Management and Budget was not clear about that. The 23% governmentwide goal for small business contracting will apply to Recovery Act spending. The interim rules were effective March 31. Comments on the final rule are due by June 1.