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Bloomberg Federal Assistance e311 Session:

Compliance Reviews & 4/30 Reporting

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April 8, 2025

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Agenda

  1. Treasury’s Compliance Review: Implications & Considerations

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  • 4/30 Project and Expenditure Reports

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  • Q&A

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  • March 13th - Treasury sends Initial Notice of Recoupment

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  • March 25th - Treasury issues Compliance Reviews and Related Recoupment Efforts
    • Key takeaways -
      • “Treasury intends to vigorously monitor recipients’ methods of obligating funds by the December 31, 2024 deadline. Treasury is committed to recouping funds used in violations of SLFRF rules and guidance.”
      • Implementation of enhanced compliance checks to ensure funds used in accordance of program requirements
        • Information Document Requests (discussed on next slide)
      • Treasury to send “Financial Instructions to Return Unobligated Funds”
        • Amount to be returned based on remaining unobligated fund as of most recently submitted report
        • Date funds must be returned by
        • Pay.gov process
        • Interest and penalties will accrue once amount to return is established

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Implications of Treasury’s Notice

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Implications of Treasury’s Notice - continued

  • Key Actions/Considerations
    • Continue to report
    • Document reasons for any missing reports
    • Review previous obligations
      • MOAs were a tool to meet obligation deadline but if contracts/subawards are ultimately required please expedite those
    • Revenue loss
      • Reporting vs. Implementation
    • Liquidation Period
    • Expenditure Period

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  • Information Document Requests (IDRs)
    • A formal process for Treasury to request information outside of regular report
    • Conducted through the same portal used for Project and Expenditure reporting

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  • While report is available - April 2025 Project & Expenditure Report User Guide (still forthcoming)
  • April release has seen several technical glitches
  • Critical reporting data set for all recipient types
  • Reporting Data is cumulative so you can still make edits to previously reported projects
  • Two upcoming webinars by the U.S. Department of Treasury: “Navigating SLFRF Reporting 2025 Annual and Q1 P&E Report Workshop Series”

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4/30 Project and Expenditure Reports

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Questions?

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