Source: National League of Cities
Treasury posted updated reporting guidance this past Friday on their website. Please see the corresponding information below with links.
Relevant updated links on the Compliance and Reporting page:
- Updated Compliance and Reporting Guidance – This Reporting Guidance includes updates to reporting requirements to reflect the final rule that Treasury adopted on January 6, 2022 and took effect on April 1, 2022. For annual filers, these updates take effect for the next Project and Expenditure Report due by April 30, 2023, and there is no action currently required.
- Updated Recovery Plan template (only required for Tier 1 recipients).
Treasury will host two webinars next week for SLFRF recipients. While only Tier 1 recipients (States, U.S. Territories, and metropolitan cities and counties with a population that exceeds 250,000 residents) are required to explicitly include equity, community engagement, metrics, and evaluation information in their Recovery Plan reporting, these sessions will provide valuable information for all recipients:
- Equity and Community Engagement, Wednesday, June 15 at 3:00 PM ET: Register for this webinar, which will provide information on how to incorporate equity and community engagement into SLFRF spending.
- Metrics and Evaluation, Thursday, June 16 at 3:00 PM ET: Register for this webinar, which will cover information and examples of how metrics may be incorporated into SLFRF spending and reporting.
NLC has heard from some metropolitan cities that they have not received their second tranche distributions yet. The Treasury Department sent the language below regarding when metropolitan can expect to receive their second tranche, and the process for rolling out these funds.
“According to statute, the second tranche payment for local governments will be made available no earlier than 12 months after the first tranche payment was made. Therefore, the second tranche payment for localities will occur on or around (but not before) the first tranche payment date in 2022. Once the recipient has successfully completed their submission in the Treasury Submission Portal, the submission will undergo payee verification review. The submission and payee verification review process generally takes approximately four business days. During that time, the designated point of contact will receive an email if there is an issue regarding the submission that needs correction or clarification. If the information and documentation submitted is determined to be complete and accurate, the designated point of contact will receive confirmation including the projected timing for payment. Recipients can monitor the status of their submission at any time by logging into the Treasury Submission Portal. As a note, recipients who received their first tranche payment in May (and have successfully submitted and passed payee verification checks) can expect to have their second tranche payment scheduled next week. Funds are generally deposited within 1-2 business days of the date payment is scheduled.“