American Rescue Plan Act (ARPA)
From the U.S. Department of the Treasury:
“On March 11, 2021, the American Rescue Plan Act was signed into law, and established the Coronavirus State Fiscal Recovery Fund and Coronavirus Local Fiscal Recovery Funds, which together make up the Coronavirus State and Local Fiscal Recovery Funds (“SLFRF”) program. This program is intended to provide support to State, territorial, local, and Tribal governments in responding to the economic and public health impacts of COVID-19 and in their efforts to contain impacts on their communities, residents, and businesses.” – Compliance and Reporting Guidelines, State and Local Fiscal Recovery Funds, June 24, 2021, version 1.1
The American Rescue Plan Act (ARPA) is providing fast and direct economic assistance for American workers, families, small businesses, and industries and it:
• Continues programs started by the CARES Act in 2020 and Consolidated Appropriations Act in 2021.
• Adds new phases, allocations, and guidance to address issues related to the continuation of the COVID-19 pandemic.
• Creates new programs to address continuing pandemic-related crises, and fund recovery efforts as the United States begins to emerge from the COVID-19 pandemic.
• Was passed by Congress on March 10, 2021, and signed into law on March 11, 2021
We provide a comprehensive review and consulting package designed to assist our clients in filing accurate and useful project and expenditure reports.
ARPA Review and Consulting Services may include:
- Consultation and guidance relevant to the U.S. Treasury (Interim) Final Rule and Guidance for State and Local Fiscal Recovery Funds (SLFRF).
- Information gathered from conferences and webinars on ARPA funding and reporting.
- Review of Interim and Quarterly Project and Expenditure Report submissions.
- Identification of variances and irregularities in the Quarterly Project and Expenditure Report submissions.
Treasury’s Rule to Consider:
- Eligible and restricted uses of SLFRF funds
- Eligible costs timeframe
- Proper documentation and reporting of costs and compliance requirements