Government Grants Accountability Act - Requires each recipient of federal agency grant funds to report to that agency with respect to each fiscal year: (1) the total amount of grant funds received from that agency; (2) the amount expended or obligated to projects or activities; and (3) a detailed list of such projects or activities.
Requires each agency with grant accounts, during the first quarter of each fiscal year, to: (1) identify any undisbursed balances in such accounts as of the end of the preceding fiscal year; and (2) return such undisbursed balances to the Treasury by the end of such quarter.Applies such requirement to grant accounts whose period of availability is not greater than one fiscal year.