Reporting on the ARRA: Milestones for Stimulus Funds
The American Recovery and Reinvestment Act of 2009 was passed by Congress and signed into law by President Obama on February 17th, 2009. The Recovery Act was designed to jump start the current sagging economy.
The
Recovery Act is “an extraordinary response to a crisis unlike any since the Great Depression, and includes measures to modernize our nation's infrastructure, enhance energy independence, expand educational opportunities, preserve and improve affordable health care, provide tax relief, and protect those in greatest need. (Quoted from
www.recovery.gov.)
As part of the disbursement of funds under the Recovery Act, the Obama Administration pledged to improve the transparency and accountability of funds allocated under the Act. Peter Orszag, the Director of the Office of Management and Budget, sent out a memorandum and Guidance document to assist Federal agencies in following the Administration’s implementation strategy.
Following are some upcoming Recovery Act milestones.
NOW:
Major Communications:
Agencies receiving
Recovery Act funds should determine which major communications are appropriate for posting on
Recovery.gov. (See Section 2.2 and Appendix 1 for required data fields and reporting instructions.)
Formula Block Grant Allocation Reports:
As soon as information becomes available, Federal agencies are required to provide details on the allocations made for each formula block grant. (See Section 2.3 and Appendix 1 for required data fields and reporting instructions.)
MARCH 3, 2009:
Weekly Updates:
Agencies must submit weekly reports providing a breakdown of funding, major actions taken to date, and major planned actions. (See Section 2.4 and Appendix 1 for required data fields and reporting instructions.)
MAY 1, 2009:
Agency Recovery Plan:
No later than May 1st, agencies must provide their “Agency Recovery Plan” that describes both broad recovery goals and the agency’s coordinating efforts. Agencies should work with their Office of Management and Budget (OMB) representative to set an appropriate submission date and review process. (See Section 2.7.)
Recovery Program Plans:
No later than May 1st, agencies must provide a separate “Recovery Program Plan” for each Recovery Act program named in the legislation. Agencies should work with their OMB representative to set an appropriate submission date and review process. (See Section 2.8.)
MAY 5, 2009:
Award Transaction Data Feeds:
Starting on May 5th, agencies must provide all
Recovery Act assistance transactions (primarily grants, loans, and loan guarantees) in the standard format currently provided to
USASpending.gov. Agencies must also begin planning now for how they would provide this information on a more frequent basis if a decision is made to do so. (See Section 2.6.)
MAY 8, 2009:
Monthly Financial Reports:
Agencies must provide monthly financial reports providing obligations, expenditures, and other financial data by Treasury Account, vendor, and award number, as well as information on allocations of mandatory and entitlement programs by State, county, or other appropriate geographical unit. (See Section 2.5.)
