The Treasury Department has issued a notice outlining its plans to conduct compliance checks regarding the obligation of State & Local Fiscal Recovery Funds (SLFRF) from the American Rescue Plan Act (ARPA). The deadline for recipients to obligate those funds was December 31, 2024. The most recent reporting deadline for those funds was January 31, 2025, and the next reporting deadline is April 30, 2025.
All SLFRF recipients are required to submit their reports by the April 30 deadline. Treasury has released new and updated resources, including the January 2025 Project and Expenditure Report User Guide to assist recipients in reporting SLFRF expenditures.
In the notice, Treasury also states that they plan to recoup funds used in violation of SLFRF rules and guidance, a sign that they are likely planning aggressive audits of at least some SLFRF recipients.
In addition, the notice outlines the Treasury Department’s plans to recapture unobligated SLFRF funds and to follow debt collection policies and procedures, including penalties and interest, for recipients that do not return unobligated SLFRF funds.
SLFRF rules, guidance, FAQ, and other information is on the Treasury website.
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