WebRevenue loss in and of itself is not an eligible use. Instead, recipients calculate lost revenue based on the formula provided in the Interim Final Rule to determine the limit for the amount of CSLFRF funds that can be used for … WebJan 6, 2024 · The final rule enables state and local governments to meet immediate pandemic response needs and promote long-term recovery. WASHINGTON — Today, the U.S. Department of the Treasury issued the Final Rule for the State and Local Fiscal Recovery Funds (SLFRF) program, enacted as a part of the American Rescue Plan, …
American Rescue Plan Act & CSLFRF: Compliance and reporting …
WebApr 11, 2024 · By selecting the Standard Allowance, all local governments may spend their full ARP/CSLFRF allocation, up to a maximum of $10 million, in this category, even if … Recipients may use SLFRF funds to: 1. Replace lost public sector revenue, using this funding to provide government services up to the amount of revenue lost due to the pandemic 2. Respond to the far-reaching public health and negative economic impacts of the pandemic, by supporting the health of … See more Funding from the Coronavirus State and Local Fiscal Recovery Funds is subject to the requirements specified in the Final Rule released by … See more Eligible state, territorial, metropolitan city, county, and Tribal governments may request their allocation of Coronavirus State and Local Fiscal Recovery Funds through the Treasury … See more The Final Ruleprovides the rule text and supplemental information. The Overview of the Final Ruleprovides a summary of major rule provisions … See more Recipients are required to comply with Treasury’s Compliance and Reporting Guidanceand meet compliance and reporting responsibilities defined in the Final Rule, which … See more philip visco
DEPARTMENT OF THE TREASURY ASSISTANCE LISTING 21.027 …
WebJan 11, 2024 · Bottom line, all state and local governments must be in compliance with the final rule beginning on April 1, 2024. 3. The final rule makes it easier for small cities and towns (NEUs) to spend in familiar ways. The most flexible spending category under the SLFRF grant program is “Replacement of Lost Revenue” for government services, which ... WebJan 27, 2024 · • Revenue Loss: The final rule offers a standard allowance for revenue loss of up to $10 million, not to exceed a recipient's SLFRF award amount, allowing recipients to select between a standard amount of revenue loss or complete a full revenue loss calculation. Recipients that select the standard allowance may use that amount for … WebMar 1, 2024 · Recipients should note that SLFRF funds available under the “revenue loss” eligible use category generally may be used to meet the non-federal cost-share or matching requirements of other federal programs. ... if not all, of their ARP/CSLFRF as revenue replacement. The course will have three parts, including brief overview videos, a 1-day ... philip vickery