The American Rescue Plan Act (ARPA) established the Coronavirus State and Local Fiscal Recovery Fund (CSLFRF) program, administered by the U.S. Treasury, Assistance Listing Number 21.027. One eligible use of these program funds allows governments to replace lost revenue in order to avoid cuts in their services.
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We know local governments face significant challenges this year. The Center for Government Innovation can help governments be well informed when making difficult financial decisions.
… CONTINUE READING → A new reporting feature in the Financial Intelligence Tool makes it simple for a local government to project its data into the future.
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The interactions between customer and cashier have become complicated by the pandemic. How do you collect payments but keep everyone safe? If you are exploring your options, here are some resources that might help you.
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We’re jumping into some lessons learned from the 2020 filing season regarding Schedule 06 – Summary of Bank Reconciliations. Even if you don’t file a Schedule 06, these tips are useful when preparing any bank reconciliation, or other schedules or reports. These were identified as the most common areas of emphasis when SAO staff helped clients in 2020.
… CONTINUE READING → The Financial Intelligence Tool’s (FIT) financial health indicators provide “retrospective” measures of financial health based on historic data. However, any government can use these measures to help plan for the future.
… CONTINUE READING → Our Financial Intelligence Tool (FIT) has long offered a way for users to examine data on specific governments, government types, and specific revenue or expenditure streams. For the first time, FIT has a way to view all important information on a specific government type in one place, using new government-type profiles.
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Financial indicators have received a meaningful update in our Financial Intelligence Tool (FIT), making them even more useful by capitalizing on the power of FIT’s statewide collection of financial data.
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What’s the best advice we can give you regarding use of and documentation for CARES Act funding? Document, document, and document some more. Read on for more guidance regarding this federal funding.
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Many of you are attempting to anticipate the length or depth of the financial impacts of the pandemic. This will be difficult to predict, which makes financial planning challenging. One important tool available to help you in these circumstances is scenario planning.
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