Q: What is the American Recovery and Reinvestment Act?
A: President Barack Obama signed the American Recovery and Reinvestment Act (ARRA) into law on February 17, 2009. The ARRA provides $787 billion to accelerate the nation’s economic recovery and preserve and create jobs. Stimulus provisions are divided between $212 billion in tax relief and $575 billion in spending programs, according to the Congressional Budget Office.
Q: When will we see the impact of stimulus funding?
A: The various programs funded by the stimulus package all have different deadlines that define how quickly funds must be awarded. The earliest impacts are likely to be on transportation projects, while other programs may not start until much later. Nearly three-quarters of the stimulus package is intended to enter the economy by the end of September, 2010.
Q: How is the money distributed?
A: The Act distributes stimulus funds through already established channels whenever possible, most commonly through the state or federal agency that normally handles that type of funding (noted in the Transparency Report under Funder). Some funds are disbursed directly to local entities based on pre-existing formulas, while others are based on competitive applications. The Broward County Department/Division that receives the funds is noted under Agency.
Q: Are grant recipients required to report specific information to the Federal Government about how they spend ARRA funds?
A: Yes. Special reporting requirements for ARRA funds must be met on a quarterly basis.
Q: Where can I find out how other ARRA funds are being utilized on a local, state or national level?
A: Expanded charts and graphs, along with interactive maps that include views by state, county, zip code, and congressional district, are available on Recovery.gov to help you understand the impact of stimulus spending in your community.
Q: What additional information will I be able to locate on Recovery.gov?
A: Some of the important information on the site includes:
• Agency Financial Reports, Recovery Act Plans and Program Plans
• Inspectors General Financial Reports, Findings, and congressional testimony
• Instructions on how to report fraud, waste, and abuse
• Information on the Recovery Board
• News items relating to how agencies are distributing funds
Q: What happens if stimulus funds are not spent in a timely manner?
A: Grantees receiving Recovery Act dollars are expected to expend funds in a timely manner. If, after 12 months, no allowable expenditures have taken place, the state or federal government may consider reducing or terminating the award and reallocating the funds.
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