UPDATES – U.S. Department of Treasury issued more guidance on June 17, 2021 related to Recipient Compliance and Reporting for the use of Coronavirus State and Local Fiscal Recovery Funds. The U.S. Department of Treasury has made updates to the compliance and reporting guidance to reflect change in reporting dates as well as clarifying reporting requirements.

As changes have continuously been made since the first issuance of guidance on compliance, we have seen much hesitation and much strategic planning on proper use of these funds. Below are more changes to the guidance with possibly more to come, specific to the use under the Revenue Loss Calculation and use of government services expenses.

KEY CHANGES IN THE PAST FIVE MONTHS:

Project and Expenditure Report (quarterly or annually)

Now due January 31, 2022 and then 30 days after the end of each quarter.

Separated reporting requirements for all States and Territories related to NEU Distributions.

Updated language and examples for reporting in the four different categories.

Added clarifying language related to Subrecipients and the responsibility of all SLFRF Fund recipients for determining subrecipient’s or beneficiaries’ eligibility and must monitor use of SLFRF award funds.

Required Programmatic Data

There was a noted change related to a phase-in for required programmatic data.  All recipients will also be required to provide various key input information on expenditures in the Revenue Replacement Category:

  • Base year general revenue
  • Fiscal yearend date
  • Growth adjustment used
  • Actual general revenue as of the twelve months ended December 31, 2020
  • Estimated revenue loss as of December 31, 2020
  • An explanation of how revenue replacement funds were allocated to government services.

Note: US Treasury will provide additional instructions and/or templates.

Click on this link to the latest version: 2.1, dated 11/15/2021