The American Rescue Plan Act (“ARPA”) was enacted in March 2021 providing an unprecedented $1.9 trillion in direct relief to combat the effects Covid-19, whether it be negative economic impacts, public health implications, revenue loss, or identified needs in infrastructure. Pennsylvania and its municipalities received approximately $14 billon in those federal ARPA funds!
ARPA funds come with certain new reporting requirements. For municipalities, the first round of that new reporting (the “Project and Expenditure Report”) is due to the U.S. Treasury by April 30, 2022. Every municipality that received ARPA funds must file this report (even if you haven’t spent anything yet).
Furthermore, and this is especially important, municipalities must decide now how they will calculate revenue loss – either according to a formula or based on the “Standard Allowance” of up to $10 million. This one-time decision must be made in the April 2022 report.
McNees has been publishing content on ARPA Funds and the resulting requirements since the legislation was passed – please visit the McNees’ Public Sector Blog for that information.
Information on obtaining access to reporting portal and other official information from the U.S. Treasury can be found here.
If you need help navigating ARPA, its reporting requirements, and how best to efficiently prepare and file your required reports, or have any general questions about ARPA, please contact McNees attorneys Tim Horstmann or Ryan Gonder, or Keystone Municipal Solutions Managing Consultant David Kratzer.
Comments