U.S. Department of the Treasury has released the FAQs regarding the final rule, which took effect April 1, 2022. FAQs from the interim final rule remain in the new FAQ document, if they were determined to still be of relevance to recipients and their subrecipients. The document contains a table outlining the specific FAQs that have been retained with slight modification to Treasury’s responses and includes which FAQs are new or substantially updated. There have been some notable changes and expenditures that are now allowed under the final rule.
New or substantial updates include:
Eligibility requirements for funding
New or updated eligible uses of funds
Clarification on the way revenue loss funds can be used and calculated
How to assess project eligibility for water, broadband, or sewer projects
Procurement and bidding guidance
The final rule is also where you can find definitions and clarifications that can further help you establish if your expenditure is eligible. If you have questions about SLFRF, you are always welcome to reach out. We have resources for you.
Current AmpliFund clients can get in touch to find out more about how to automate SLFRF reports in AmpliFund. To learn more about how a grant management system can help youprepare for the single audit and maintain compliance, schedule a demo today.