Over the last five years, more than $4 trillion in federal funding has been awarded to state and local governments. The American Rescue Plan Act (ARPA) alone brought $350 billion to more than 23 thousand state and local government recipients. In due course, finance officers at each of those governments that accepted the federal funds designed systems to ensure accountability, helping articulate to the funder the way the federal funds have been spent. The systems in place help to account for the reporting requirements of the granting administration as well as to a general reporting of the use of those funds—answering to an administrative document maintained by the Executive Office of the President’s Office of Management and Budget (OMB) called the Uniform Grants Guidance (UGG).
- Publication date: October 2024
- Authors: Emily S. Brock and Todd Buikema, CPA