CSLFRF Audit/Reporting FAQs

Yes, Treasury created a new page that provides an overview on recipient compliance and reporting responsibilities. The page contains resources like the Compliance and Reporting guidance and a number of templates for recipients to use.

(See Treasury CSLFRF Compliance and Reporting )

As provided for in the award terms, payments from the Fiscal Recovery Funds as a general matter will be subject to the provisions of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR 200) (the Uniform Guidance), including the cost principles and restrictions on general provisions for selected items of cost.

(See p. 4438 of the Final Rule)

Treasury is aligning the definition of subrecipient in the final rule with the definition of subrecipient in the Uniform Guidance. 2 CFR 200.1 of the Uniform Guidance defines a subrecipient, in that ‘‘[s]ubrecipient means an entity, usually but not limited to non-Federal entities, that receives a subaward from a passthrough entity to carry out part of a Federal award; but does not include an individual that is a beneficiary of such award. A subrecipient may also be a recipient of other Federal awards directly from a Federal awardingagency.’’

(See p. 4394 of the Final Rule)

-Recipients of Fiscal Recovery Funds will be required to submit one interim report and thereafter quarterly Project and Expenditure reports until the end of the award period. Recipients must submit interim reports to Treasury by August 31, 2021. The quarterly Project and Expenditure reports will include financial data, information on contracts and subawards over $50,000, types of projects funded, and other information regarding a recipient’s utilization of the award funds.

-Non-entitlement unit recipients will be required to submit annual Project and Expenditure reports until the end of the award period. The initial annual Project and Expenditure report for Non-entitlement unit recipients must be submitted to Treasury by April 30, 2022, and then annually thereafter.

-States, territories, metropolitan cities, and counties with a population that exceeds 250,000 residents will also be required to submit an annual Recovery Plan Performance report to Treasury. The Recovery Plan Performance report will include descriptions of the projects funded and information on the performance indicators and objectives of the award.

(See Part 2 of Treasury's Compliance and Reporting Guidance)