On the latest Risk Advisory podcast we are covering the latest guidance on the American Rescue Plan Act of 2021 (“ARPA”). We examine how organizations can successfully administer CARES funding, details around the State and Local Fiscal Recovery Funds (“SLFRF”) requirements and Single audit requirements, as well as reporting. Our guests also cover unique challenges with ARPA funds for the government sector and particularly as it pertains to compliance, including requirements to segregate direct and indirect costs, structuring indirect cost rates, and the allowability or unallowability of various types of costs. We are often engaged to assist organizations with revisions to policies and procedures to address these areas.
Topics discussed include:
- 0:38 – What is ARPA?
- 1:46 – Addressing the challenges of ARPA funding when comparing to the CARES Act
- 5:02 – Requirements for State and Local Fiscal Recovery Funds (“SLFRF”) funding
- Challenges at the local level?
- 8:55 – Challenges larger counties and municipalities face with ARPA funding, including Single Audit requirements and cost principles
- 13:41 – Long-term challenges organizations may encounter with compliance requirements and fund management
- 16:05 – Opportunities with the ARPA – Take your time and plan, be creative, modernize, etc.
Speakers:
Christian Fuellgraf
Principal, Government & Public Sector Industry Practice Leader
Denise Lippuner, CPA, CGFM, CRMP-FED
Risk & Accounting Advisory Services Government Services Leader
Curt Smith
Manager, Advisory Services
