I didn’t know this [PDF] had been published but apparently so! OMB has released a memo detailing the data elements that agencies must collect and provide to comply with FFATA. From the memo: 

Agencies now must organize and categorize this information for access by the public and

ensure it is in a searchable and downloadable format consistent with the technological solution

the Federal Funding Accountability and Transparency Act Taskforce recommends. Agencies that

do not now collect these data elements in single or multiple systems, or that do not update this

information at least monthly, must gather this data and have a reliable process in place to

produce this data on at least a monthly basis no later than June 1, 2007. This includes all

transactions executed on or after October 1, 2006 greater than $25,000 with organizations (not

individuals), including grants, loans, awards, cooperative agreements, other forms of financial

assistance, contracts, purchase orders, task orders, and delivery orders. (See Attachment A for

data elements and definitions.) In limited cases for which meeting this deadline is not practical,

your Taskforce member should provide your Agency plan for consideration to the Chair of the

Taskforce, Robert Shea, Associate Director for Management, so long as your plan meets

the requirements of Public Law No. 109–282.

With this data definition in place, we can start proper planning at the agencies. Hurrah!