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TREASURY ISSUES MORE DETAIL ON REPORTING OF THE CORONAVIRUS RELIEF FUND

Prime recipients should review the memo for detailed requirements concerning projects and expenditure categories and be prepared to also provide detailed obligation and expenditure information for any contracts and grants awarded, loans issued, transfers made to other government entities, and direct payments made by the prime recipient that are greater than or equal to $50,000.

OMB RESCINDS PREVIOUS COVID FLEXIBILITY MEMORANDUMS AND ISSUES M-20-26

M-20-26 eliminates the 6-month single audit extension, requires auditors/auditors to separately ID emergency acts expenditures on the SEFA and audit findings, and adds requirement to exhaust other funding sources.

COVID-19 RESOURCES FOR STATES


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NASACT and other government associations have partnered to develop 2020 State and Local Fiscal Facts, providing accurate information about the conditions of state and local finances, municipal bonds and state and local pensions.