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than the end of the month following the month in which the obligation was made. <br />(For example, if the obligation was made on November 7, 2011, the obligation <br />must be reported by no later than December 31, 2011.) <br />c. What to report: You must report the information about each obligating action <br />that the submission instructions posted in Information Bulletin 350, to Cal EMA. <br />d. Reporting Total Compensation of Recipient Executives: You must report total <br />compensation for each of your five most highly compensated executives for the <br />preceding completed fiscal year, if- <br />i. The total federal funding authorized to date under this award is $25,000 <br />or more; <br />ii. In the preceding fiscal year, you received 80 percent or more of your <br />annual gross revenues from federal procurement contracts (and <br />subcontracts) and federal financial assistance subject to the Transparency <br />Act, as defined at 2 CFR 170.320 (and subawards); and $25,000,000 or <br />more in annual gross revenues from federal procurement contracts (and <br />subcontracts) and federal financial assistance subject to the Transparency <br />Act, as defined at 2 CFR 170.320 (and subawards); and <br />iii. The public does not have access to information about the compensation <br />of the executives through periodic reports filed under section 13(a) or <br />15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a), 78o(d)) <br />or section 6104 of the Internal Revenue Code of 1986. (To determine if the <br />public has access to the compensation information, see the U.S. Security <br />and Exchange Commission total compensation filings at <br />http://www.sec.gov/answers/execomp.htm.) <br />iv. Subrecipient Executives. Unless you are exempt as provided above, for <br />each first-tier subrecipient under this award, you shall report the names and <br />total compensation of each of the subrecipient's five most highly <br />compensated executives for the subrecipient's preceding completed fiscal <br />year, if in the subrecipient's preceding fiscal year, the subrecipient received <br />80 percent or more of its annual gross revenues from federal procurement <br />contracts (and subcontracts) and federal financial assistance subject to the <br />Transparency Act, as defined at 2 CFR 170.320 (and subawards); and <br />$25,000,000 or more in annual gross revenues from federal procurement <br />contracts (and subcontracts), and federal financial assistance subject to the <br />Transparency Act (and subawards); and the public does not have access to <br />information about the compensation of the executives through periodic <br />reports filed under section 13(a) or 15(d) of the Securities Exchange Act of <br />1934 (15 U.S.C. 78m(a), 78o(d)) or section 6104 of the Internal Revenue <br />Code of 1986. (To determine if the public has access to the compensation <br />information, see the U.S. Security and Exchange Commission total <br />compensation filings at http://www.sec.gov/answers/execomp.htm.)You <br />must report subrecipient executive total compensation to Cal EMA by the <br />end of the month following the month during which you make the <br />subaward. For example, if a subaward is obligated on any date during the <br />month of October of a given year (i.e., between October 1 and 31), you <br />must report any required compensation information of the subrecipient by <br />November 30 of that year. <br />60. Exemptions to Paragraph 59 include: If, in the previous tax year, you had gross income, <br />from all sources, under $300,000, you are exempt from the requirements to report on <br />subawards, and the total compensation of the five most highly compensated executives of <br />any subrecipient. <br />a. Definitions associated with paragraph 59 include: <br />i. "Executive" means officers, managing partners, or any other employees <br />in management positions. <br />39