Update on Treasury Guidance

On May 10, the U.S. Department of Treasury released guidance on the Coronavirus State and Local Fiscal Recovery Funds (CSLFRF) included in the American Rescue Plan Act. The CSLFRF includes nearly $130 billion in direct, flexible aid to local governments in America, as well as other crucial investments in local communities.

Treasury’s release of the guidance includes a number of resources including: the interim final rule, a fact sheet, initial FAQs, and information for non-entitlement units of government.

The FLC is currently reviewing the guidance and will be providing updates on GFOA’s CSLFRF Guidance FAQ page. Review will be ongoing so please check back regularly for the latest updates.