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.
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The printed NASACT News was discontinued in July 2016. Click to view old issues of NASACT News.
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


Dianne Ray Appointed to GASB

The FAF Board announced the appointment of Dianne Ray to a five-year term on the GASB. Her GASB term begins July 1, 2020 and extends through June 30, 2025.