2021-08-18-埃森哲-Coronavirus_state_and_local_fiscal_recovery_fund_10页_429kb

CSLFRF Summary

The Coronavirus State and Local Fiscal Recovery Fund (CSLFRF) is a $350 billion funding stream from the American Rescue Plan Act (ARPA), providing financial assistance to state, local, tribal, and territorial governments to recover from COVID-19 impacts. Recipients must use these funds for eligible purposes, such as infrastructure, public health, and economic stabilization, and must avoid ineligible uses like reducing taxes.

Compliance requirements are complex and span multiple sources, including ARPA, Treasury regulations, OMB guidance, and the Uniform Administrative Requirements (2 CFR Part 200), which includes the Compliance Supplement. Recipients must assess their existing policies, processes, and systems to ensure they can handle the compliance obligations; adjustments and investments are needed if gaps exist.

Reporting requirements include submitting three main reports:

• Project and Expenditure Report (covering initial obligations and expenditures).
• Recovery Plan Performance Report (detailing project outcomes, equity, and evaluation).
• These reports require robust data collection and organizational readiness to manage federal drawdowns.

Key takeaways for recipients:

• Create a compliance and reporting framework before spending funds.
• Embed compliance into program designs to align with eligible uses.
• Ensure sub-recipients adhere to obligations.
• Conduct single audits for larger recipients over $750,000.
  Non-compliance risks include fund repayment, so thorough preparation is essential.

Accenture recommends seeking expert assistance for process redesign and compliance management.