The Treasury released their Compliance and Reporting Guidance for State and Local Fiscal Recovery Funds (SLFRF) on June 17, 2021. This guidance was issued to provide additional detail and clarification around the reporting, subrecipient monitoring, or single audit requirements for SLFRF program funds. The guidance itself aims to fill in those gaps, provide resources, and provide quick links to the Treasury’s expectations for recipient compliance responsibilities, best practices in relation to those responsibilities, and reporting requirements for the SLFRF program.
This new guidance only applies to SLFRF funds under the American Rescue Plan Act (ARPA), and does not change or impact reporting and compliance requirements for the Coronavirus Relief Fund (CRF) established by the CARES Act.
Some of the new guidance is built on the guidance for CRF program funding requirements, but there are some departures as well.
Namely, there is a much greater emphasis on both performance reporting requirements and on pre-award risk assessment.
Even more than the UGG already requires.
There are now three (3) types of reporting requirements for SLFRF program funds:
This guide will outline what some of the reporting requirements for each of these three reports entails.