American Rescue Plan:
State & Local Resources

State Board of Accounts

Memorandum: Interest Earned on ARPA Funds (June 15, 2021; Updated July 8, 2021)

The State Board of Accounts has received several inquiries regarding the earning of interest on money received from the Coronavirus Local Fiscal Recovery Fund established by the American Rescue Plan Act (ARPA). We have formulated the answers based on information received from the U.S. Department of the Treasury (Treasury). At the time of the June 15 issuance of this memo the 2nd question below had not been addressed by the Treasury. The Treasury publication Compliance and Reporting Guidance: State and Local Fiscal   Recovery Funds, Version 1.1 has since been issued and brought clarification. We have modified the answer to the 2 nd question to reflect this clarification.

Memorandum: Accounting Processes for ARPA Subtitle M-Coronavirus State and Local Fiscal Recovery Funds

On May 12, 2021, the State Board of Accounts updated the memo regarding Accounting Processes for ARPA Subtitle M-Coronavirus State and Local Fiscal Recovery Funds to reflect guidance provided by the U.S. Treasury Interim Final Rule. SBOA recommends that every recipient of money under the American Rescue Plan Act read this document in its entirety.

State Examiner Directive 2021-1: Accounting for American Rescue Plan Act (ARP), Accounting Processes for Subtitle M-Coronavirus State and Local Fiscal Recovery Funds

On March 18, 2021, the State Examiner released Directive 2021-1 regarding the Accounting for American Rescue Plan Act (ARP), Accounting Processes for Subtitle M-Coronavirus State and Local Fiscal Recovery Funds. The purpose of this directive is to prescribe the accounting procedures for federal assistance received through the American Rescue Plan Act of 2021 (ARP).

Local Examples

Below are community examples of American Recovery Plan Fund Ordinances.