HomeMy WebLinkAbout123124 - TODAY_ ARPA State and Local Fiscal Recovery Funds Obligation DeadlineALERT: BE CAUTIOUS This email originated outside the organization. Do not open attachments or click on links if you are not expecting them.
Resources for county leaders on obligating ARPA funds
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December 31, 2024
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OBLIGATION DEADLINE TODAY
ARPA State and Local Fiscal
Recovery Fund
Today – December 31, 2024 – is the deadline for obligating funds <https://public-usa.mkt.dynamics.com/api/orgs/227b4c5a-99e5-4698-be04-ef85d0384bf3/r/UKb5U_93EESkDbYBVGS-sgMAAAA?target=%7B%22TargetUr
l%22%3A%22https%253A%252F%252Fwww.naco.org%252Fnews%252Fcountdown-arpa-slfrf-obligation-deadline-what-counties-need-know-december-31-2024%22%2C%22RedirectOptions%22%3A%7B%221%22%3Anull%7D%7D&digest=x
PJrByGwjpjYvi%2BvcdhNkerq0NTxNfps9FPXv%2FySiHc%3D&secretVersion=a587597bbd2d4ba3bb4334f6d8be15ee> under the American Rescue Plan Act (ARPA) <https://public-usa.mkt.dynamics.com/api/orgs/227b4c5a-99e
5-4698-be04-ef85d0384bf3/r/UKb5U_93EESkDbYBVGS-sgQAAAA?target=%7B%22TargetUrl%22%3A%22https%253A%252F%252Fwww.naco.org%252Fpage%252Famerican-rescue-plan-resource-hub%22%2C%22RedirectOptions%22%3A%7B%
221%22%3Anull%7D%7D&digest=Aehm0PEP0UXJQbIuNVIbE31kjxcCmwaE%2FDWpcuRxD4c%3D&secretVersion=a587597bbd2d4ba3bb4334f6d8be15ee> State and Local Fiscal Recovery Funds (SLFRF) program. With
over $350 billion allocated to state and local governments, ensuring these funds are effectively obligated will support the prosperity of our communities.
Counties are required to return to the U.S. Department of the Treasury (Treasury) any SLFRF funds that have not been obligated by today's obligation deadline. Counties do not need to
submit a report today, but will be required to submit their next Project and Expenditure Report either by January 31, 2025 (quarterly reporters) or April 30, 2025 (annual reporters).
NACo Resources
NACo has developed numerous resources <https://public-usa.mkt.dynamics.com/api/orgs/227b4c5a-99e5-4698-be04-ef85d0384bf3/r/UKb5U_93EESkDbYBVGS-sgUAAAA?target=%7B%22TargetUrl%22%3A%22https%253A%252F%2
52Fwww.naco.org%252Fpage%252Famerican-rescue-plan-resource-hub%22%2C%22RedirectOptions%22%3A%7B%221%22%3Anull%7D%7D&digest=Aehm0PEP0UXJQbIuNVIbE31kjxcCmwaE%2FDWpcuRxD4c%3D&secretVersion=a587597bbd2d4
ba3bb4334f6d8be15ee> , including toolkits <https://public-usa.mkt.dynamics.com/api/orgs/227b4c5a-99e5-4698-be04-ef85d0384bf3/r/UKb5U_93EESkDbYBVGS-sgYAAAA?target=%7B%22TargetUrl%22%3A%22https%253A%25
2F%252Fwww.naco.org%252Fresource%252Farpa-state-and-local-fiscal-recovery-fund-obligation-updates-guidance%22%2C%22RedirectOptions%22%3A%7B%221%22%3Anull%7D%7D&digest=b%2F%2BnGI2jCzvU9PN6UESiab7szQOS
F8o2xJLZySnB9fA%3D&secretVersion=a587597bbd2d4ba3bb4334f6d8be15ee> , webinars <https://public-usa.mkt.dynamics.com/api/orgs/227b4c5a-99e5-4698-be04-ef85d0384bf3/r/UKb5U_93EESkDbYBVGS-sgcAAAA?target=%
7B%22TargetUrl%22%3A%22https%253A%252F%252Fwww.naco.org%252Fevent%252Flistening-session-3-what-local-governments-need-know-arpa-slfrf-december-31-2024-obligation%22%2C%22RedirectOptions%22%3A%7B%221%
22%3Anull%7D%7D&digest=pIVrID%2B6g46WZR%2BfEdOwHaaFL6W%2FDn8KnQGot8x4fBA%3D&secretVersion=a587597bbd2d4ba3bb4334f6d8be15ee> , and guidance documents <https://public-usa.mkt.dynamics.com/api/orgs/227b
4c5a-99e5-4698-be04-ef85d0384bf3/r/UKb5U_93EESkDbYBVGS-sggAAAA?target=%7B%22TargetUrl%22%3A%22https%253A%252F%252Fwww.naco.org%252Fnews%252Ffaqs-navigating-arpa-slfrf-obligation-deadline%22%2C%22Redi
rectOptions%22%3A%7B%221%22%3Anull%7D%7D&digest=ECCukyCFG0N4FQnl76OZ177DGG70Q6VGLwwnqrA%2BNWM%3D&secretVersion=a587597bbd2d4ba3bb4334f6d8be15ee> , to assist counties in navigating ARPA’s
regulatory landscape. Leverage these tools to ensure your projects meet Treasury standards and have the desired impact.
Explore Resources <https://public-usa.mkt.dynamics.com/api/orgs/227b4c5a-99e5-4698-be04-ef85d0384bf3/r/UKb5U_93EESkDbYBVGS-sgoAAAA?target=%7B%22TargetUrl%22%3A%22https%253A%252F%252Fwww.naco.org%252F
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Top Considerations for Counties
NACo recently shared insights and guidance for local governments regarding the SLFRF deadline. See summaries of each insight below and click here <https://public-usa.mkt.dynamics.com/api/orgs/227b4c5
a-99e5-4698-be04-ef85d0384bf3/r/UKb5U_93EESkDbYBVGS-sgsAAAA?target=%7B%22TargetUrl%22%3A%22https%253A%252F%252Fwww.naco.org%252Fnews%252Fcountdown-arpas-slfrf-obligation-deadline-top-5-insights-local
-governments%22%2C%22RedirectOptions%22%3A%7B%221%22%3Anull%7D%7D&digest=DO3dPODuwb3%2FM4bUqjH99B2io%2FU%2FEWdQoFvdh%2FGlzCc%3D&secretVersion=a587597bbd2d4ba3bb4334f6d8be15ee> to read
the full article.
1. Revenue Replacement Is Not Automatic
Revenue replacement can be quick and flexible, but it still requires a two-step process: (1) claim funds as revenue loss – elect either the $10 million Standard Allowance, up to the
award amount, or calculate revenue loss using Treasury's formula <https://public-usa.mkt.dynamics.com/api/orgs/227b4c5a-99e5-4698-be04-ef85d0384bf3/r/UKb5U_93EESkDbYBVGS-sgwAAAA?target=%7B%22TargetU
rl%22%3A%22https%253A%252F%252Fhome.treasury.gov%252Fsystem%252Ffiles%253Ffile%253D136%252FSLFRF-Final-Rule-FAQ.pdf%22%2C%22RedirectOptions%22%3A%7B%225%22%3Anull%2C%221%22%3Anull%7D%7D&digest=o2ibLS
Yf2jCQQiS1yHvUMBm7qphzKuj11%2BcXsDHAfws%3D&secretVersion=a587597bbd2d4ba3bb4334f6d8be15ee> – and (2) set up a project under Expenditure Category 6.
Simply moving money into a general fund does not fulfill the obligation requirement.
2. Understand What Constitutes an Obligation
For SLFRF, an obligation includes contracts, subawards, interagency agreements, or payroll for eligible employees established by December 31, 2024. If using interagency agreements, finalize
them by the deadline and follow Treasury’s guidelines. You can find a template for an interagency agreement here <https://public-usa.mkt.dynamics.com/api/orgs/227b4c5a-99e5-4698-be04-ef85d0384bf3/r/
UKb5U_93EESkDbYBVGS-sg0AAAA?target=%7B%22TargetUrl%22%3A%22https%253A%252F%252Flinkprotect.cudasvc.com%252Furl%253Fa%253Dhttps%25253a%25252f%25252ftheseap.org%25252fwp-content%25252fuploads%25252f202
4%25252f11%25252fMemorandum-of-Understanding-SLFRF.docx%2526c%253DE%252C1%252CPJD4XQYrTYJ1VOKcd3gV_jq6gi8zJhctMwpnR6u6XXNa7lQWCy0dRTr2JaJI13HCgy1Ciz9y2sEVNATLrEuH716q_0ki1Whud0rErkkY-eo3QcXh4tF6HDoa1
lKL%2526typo%253D1%2526ancr_add%253D1%22%2C%22RedirectOptions%22%3A%7B%225%22%3Anull%2C%221%22%3Anull%7D%7D&digest=x1zC9Ys%2FjfJI4i%2BNfWZ1x9x643QhPu74Qb8g6nuLE8o%3D&secretVersion=a587597bbd2d4ba3bb4
334f6d8be15ee> .
3. Obligation Deadline ≠ Spending Deadline
You must obligate funds by December 31, 2024, but you can spend them through December 31, 2026. This allows for multi-year initiatives like workforce development, infrastructure or housing,
if obligations are in place before the deadline.
4. Avoid Common Errors
Common pitfalls include assuming revenue loss funds are automatically obligated, failing to establish eligible positions by December 31, 2024 and lacking proper documentation. Stay on
top of reporting cycles to correct errors and ensure compliance.
5. Check Your Obligation Status
Review your Treasury Data Dashboard <https://public-usa.mkt.dynamics.com/api/orgs/227b4c5a-99e5-4698-be04-ef85d0384bf3/r/UKb5U_93EESkDbYBVGS-sg4AAAA?target=%7B%22TargetUrl%22%3A%22https%253A%252F%252
Fapp.high.powerbigov.us%252Fview%253Fr%253DeyJrIjoiYTA3MmJlNjgtOTlmMy00ZDZjLTlkZGMtNmNjOTdjMDU4MzY1IiwidCI6IjU4ZjFlM2ZhLTU4Y2ItNGNiNi04OGNjLWM5MWNhYzIwN2YxOCJ9%22%2C%22RedirectOptions%22%3A%7B%225%22
%3Anull%2C%221%22%3Anull%7D%7D&digest=2x3B7Y%2B5w%2F22EV2%2FSOB3J0%2B%2BXutunz%2BuGCIWyfiLNJI%3D&secretVersion=a587597bbd2d4ba3bb4334f6d8be15ee> report to ensure your records match
the U.S. Treasury’s. Correct any discrepancies in your next reporting cycle so you can maximize the impact of ARPA dollars.
To help navigate the portal, Treasury provides an instructional video, which you can access here <https://public-usa.mkt.dynamics.com/api/orgs/227b4c5a-99e5-4698-be04-ef85d0384bf3/r/UKb5U_93EESkDbYBV
GS-sg8AAAA?target=%7B%22TargetUrl%22%3A%22https%253A%252F%252Fwww.youtube.com%252Fwatch%253Fv%253Dq9HKaDl3Od8%22%2C%22RedirectOptions%22%3A%7B%225%22%3Anull%2C%221%22%3Anull%7D%7D&digest=5iLLPkT%2Fj6
OaWcNLc89l%2FwgYBOvpydrNg3dSn4VrBr4%3D&secretVersion=a587597bbd2d4ba3bb4334f6d8be15ee> .
Learn More <https://public-usa.mkt.dynamics.com/api/orgs/227b4c5a-99e5-4698-be04-ef85d0384bf3/r/UKb5U_93EESkDbYBVGS-shEAAAA?target=%7B%22TargetUrl%22%3A%22https%253A%252F%252Fwww.naco.org%252Fnews%25
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