Federal Funding Accountability and Transparency Act of 2006 – Directs the Office of Management and Budget (OMB), by January 1, 2008, to ensure the existence and operation of a single searchable website accessible by the public at no cost that includes for each federal award of federal financial assistance and expenditures (excluding individual transactions below $25,000 and credit card transactions before October 1, 2008): (1) the amount; (2) information including transaction type, funding agency, the North American Industry Classification System code or Catalog of Federal Domestic Assistance number, program source, and an award title descriptive of the purpose of each funding action; (3) the name and location of the recipient and the primary location of performance; and (4) a unique identifier of the recipient and any parent entity.