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• No satisfaction of settlements and judgments <br />The first Project and Expenditure Report is due on April 30, 2022. This report will be found on the US Treasury Portal. We recommend starting <br />the process of logging into that system as soon as possible, as many people are running into issues and are needing assistance from the <br />Treasury. Someone at the city should have received an email from slfrp@treasurygov to get started. <br />Things to consider <br />• If the city spends more than $750,000 of federal money during a calendar year, a single audit will be required <br />• The city could be strategic about which years they spend the money as to not exceed the $750,000 threshold in any one year. For <br />example, if the city receives $2,000,000 in ARPA funding they may want to consider managing the expenses over the four-year eligibility <br />periods so that no one year would have more than $750,000 of federal expenses. Keep in mind that if there are other federal expenses, <br />those should also be considered. <br />• If the city will have to have a single audit, consider spending most of the money during that one year so the city can avoid having single <br />audits in multiple years. For example, if the city receives $2,000,000 in ARPA funding they may want to spend it all in one year. <br />• The city does have the option to spend the full ARPA allocation for 2021, even though the second half of the money will not be received <br />until 2022. <br />For questions or for more information on compliance with the Interim Final Rule and the Final Rule, please be sure to reach out to Erin Enstad. <br />Senior Manager at Abdo Financial Solutions, at erin.enstad@abdofs.com. <br />Looking for more? <br />For more resources and guidance to help your organization navigate the future, visit our insights page. <br />FIND RESOURCES <br />Sign up for the Abdo newsletter <br />Always sparking new ideas <br />Email <br />Name <br />Edina Office <br />5201 Eden Avenue, Suite 250 <br />Edina, MN 55436 <br />P 952.835.9090 <br />F 952,835,3261 <br />SUBMIT <br />Mankato Office <br />100 Warren Street, Suite 600 <br />Mankato, MN 56001 <br />P 507.625.2727 <br />F 507,388,9139 <br />info @ abdosolutions.com info @ abdosolutions.com <br />f V <br />Copyright @ 2021. All Rights Reserved. Peer Review Report Site Map Privacy Policy <br />