Information Today has a good article on the history and future of S.2590, the database of the federal grants and contracts. The author notes that, 

The database will only be as good as the data included in it. The current data collection process needs dramatic improvement and upgrades—better quality control and oversight of the data is essential for this to really work. 

I couldn’t agree more! As the hokey saying goes, you can put lipstick on a pig but it’s still a pig.