This guide reviews the updated reporting requirements for the Treasury’s State and Local Recovery Funds (SLFRF). See what each requirement entails.
The Treasury released the final rule for Coronavirus State and Local Fiscal Recovery Funds (SLFRF) established under the American Rescue Plan Act (ARPA). This guidance was issued to provide updates to the additional detail and clarification around the reporting, subrecipient monitoring, or single audit requirements for SLFRF program funds that were previously outlined in the interim final rule and compliance supplements throughout 2021. The guidance itself aims to fill in 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. The final rule responds to public comments, implements the ARPA statutory provisions on eligible and ineligible uses of SLFRF funds, and makes several changes to the provisions of the previous interim final rule.
There are three (3) types of reporting requirements for SLFRF program funds:
- the Interim Report
- the Project Expenditure Report
- the Recovery Plan Performance Report.
Based on the period of performance, these reports will be collected through April 30, 2027.
This guide will outline what some of the reporting requirements for each of these three reports entails, as well as any relevant updates that have occurred.