Notice
American Rescue Plan Act (ARPA) Obligation Deadline - December 31, 2024
July 25th, 2024Boroughs that received ARPA funds in 2021 from the federal government must “obligate” those funds by the end of this year. To ensure that your borough does not lose remaining ARPA funds, please review this important information.
US Treasury’s Rule defines “obligate” as to include an “order placed for property and services and entry into contracts, subawards, and similar transactions that require payment.” In an explanatory webinar, the Treasury Department explicitly stated that incorporating an ARPA spending plan in a budget or passing a motion or resolution does not obligate those funds, and such funds would be subject to recoupment by US Treasury. Recipients must still award a contract or subaward for funds before the December 31, 2024, deadline.
For more information on this ARPA requirement, please visit the following links.
Updated FAQs on Obligations Webinar and slide deck
Obligation IFR Quick Reference Guide
