HomeMy WebLinkAbout040524 - Win for counties in new Treasury ARPA guidanceALERT: BE CAUTIOUS This email originated outside the organization. Do not open attachments or click on links if you are not expecting them.
Treasury’s new guidance provides clarification on ARPA obligations and new flexibilities for
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WIN FOR COUNTIES IN NEW TREASURY ARPA GUIDANCE <https://www.mmsend50.com/link.cfm?r=b_5cxdcAxAVR3h0NaLyCOA~~&pe=XKgqXfJzMo0BctTXzc1jtyqGaAG0cL0TskMRXZFPqB2n3GtX-w8A0FxC2aDIYdeisOI0FuBKPdJnt_7YTsgOuw~
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Treasury’s new guidance provides clarification on ARPA obligations and new flexibilities for counties <https://www.mmsend50.com/link.cfm?r=b_5cxdcAxAVR3h0NaLyCOA~~&pe=82wTTAoR68fH4rmxGVBpDD_Pa9PufHWO
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On March 29, the U.S. Treasury Department released new FAQs <https://www.mmsend50.com/link.cfm?r=b_5cxdcAxAVR3h0NaLyCOA~~&pe=TsBFi2OvpU9gGhNjhDr_U1oleKgp8YnMpJMkitheXOWBD7MxINhgrWaLrRd9DEr0fBS2yKL74f
Lqe4Jk1Dl7NQ~~&t=-Iqqq3CJRWR2qnqGM2UrNw~~> related to the Obligation Interim Final Rule (IFR) <https://www.mmsend50.com/link.cfm?r=b_5cxdcAxAVR3h0NaLyCOA~~&pe=bDYsr0zP6kJC4qFvQQYE7npB2QEN8w_EhCaduVT
eQlaHc_sPiehaJjcRg1BXxf9fDVYIUs1nmpAzmYaHc3rz5g~~&t=-Iqqq3CJRWR2qnqGM2UrNw~~> for the American Rescue Plan Act (ARPA) State and Local Fiscal Recovery Fund (SLFRF). These updates directly
incorporated recommendations provided by NACo <https://www.mmsend50.com/link.cfm?r=b_5cxdcAxAVR3h0NaLyCOA~~&pe=IHKN9w5cWZKaeuyNbPBZhC4eTPnjQETq9biHzwRJmT_DYp_jj02ia8zz1JmYc-czB5Y7j-SyWqagzkp3Wtcryw~
~&t=-Iqqq3CJRWR2qnqGM2UrNw~~> and grant additional flexibilities for county SLFRF investments.
Major wins for counties in the new guidance include:
* Extended personnel costs coverage for any SLFRF eligible position through December 31, 2026 that was established prior to the December 31, 2024 obligation deadline
* Subrecipients are not subject to the December 31, 2024 obligation deadline, providing relief and flexibility in project timeline
* New flexibility to reclassify excess funds for SLFRF eligible uses after the December 31, 2024 obligation deadline
NACo WEBINAR
Overview of Obligation FAQs and P&E Report requirements <https://www.mmsend50.com/link.cfm?r=b_5cxdcAxAVR3h0NaLyCOA~~&pe=djF_ETfm5Lzf_kir0T4V17ZMNSXzDV8YSnORepOswCxrPMHLfQKG_7JwzEMgLEQDN2oo9QGR3RlxrB
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Friday, April 12 <https://www.mmsend50.com/link.cfm?r=b_5cxdcAxAVR3h0NaLyCOA~~&pe=U11kH-Mdz7J9KseZBXjEvAh8WlBQpsJsrhfk7tA_aWl0ZsK3CmFth2RV8m3xrBFK6GXUabylnfoLdvDs8mTT1A~~&t=-Iqqq3CJRWR2qnqGM2UrNw~~>
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REGISTER <https://www.mmsend50.com/link.cfm?r=b_5cxdcAxAVR3h0NaLyCOA~~&pe=mjSdxlP2Al018htdlLvfQ5F2ZX2Rg2hABz2he3xaD2TEzd08hFhSisHoVJmkucwBzepd6QpFpm_P5XOAxBmJiw~~&t=-Iqqq3CJRWR2qnqGM2UrNw~~>
The release of these new FAQs follows NACo's advocacy efforts to address county concerns and secure clarifications and flexibilities from Treasury. Understanding the complexities of
county budgeting processes, NACo successfully urged Treasury to provide counties with the necessary guidance to navigate SLFRF obligations effectively.
Looking ahead, we encourage counties to incorporate these new flexibilities in preparing to submit Project and Expenditure (P&E) report by April 30, 2024.
TREASURY FAQs <https://www.mmsend50.com/link.cfm?r=b_5cxdcAxAVR3h0NaLyCOA~~&pe=918JEHdI-cZO-mi7jGHNjGbs555oTweCWKoUUCKWmp6ZGyIAftxIsrfN-sIz4WoqGK8SUUEAzfNATWt9OS2asA~~&t=-Iqqq3CJRWR2qnqGM2UrNw~~>
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