Program

COVID-19 Federal Assistance e311

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Fund Planning & Allocation

Our fiscal year is October-September; what steps can we take to accommodate the current annual reporting benchmarks (based on the calendar year), and what is the possibility that regulations may change to allow for different start and ends dates?

Reports that are due to the U.S. Department of the Treasury (“Treasury”) for Coronavirus State and Local Fiscal Recovery Funds (“CSLFRF”) operate on a calendar-year system, as well as calendar quarters.[1] Each quarterly report must be submitted to Treasury within 30 calendar days after the end of each calendar quarter. The Project and Expenditure Reports require key financial grant reporting information and are due quarterly based on calendar quarter ends: March 31, 2022, June 30, 2022, September 30, 2022, and December 31, 2022.

The following table summarizes all quarterly reporting timelines:

Report

Year

Quarter

Period Covered

Due Date

1

2021

2-4

March 3 – December 31

January 31, 2022

2

2022

1

January 1 – March 31

April 30, 2022

3

2022

2

April 1 – June 30

July 31, 2022

4

2022

3

July 1 – September 30

October 31, 2022

5

2022

4

October 1 – December 31

January 31, 2023

6

2023

1

January 1 – March 31

April 30, 2023

7

2023

2

April 1 – June 30

July 31, 2023

8

2023

3

July 1 – September 30

October 31, 2023

9

2023

4

October 1 – December 31

January 31, 2024

10

2024

1

January 1 – March 31

April 30, 2024

11

2024

2

April 1 – June 30

July 31, 2024

12

2024

3

July 1 – September 30

October 31, 2024

13

2024

4

October 1 – December 31

January 31, 2025

14

2025

1

January 1 – March 31

April 30, 2025

15

2025

2

April 1 – June 30

July 31, 2025

16

2025

3

July 1 – September 30

October 31, 2025

17

2025

4

October 1 – December 31

January 31, 2026

18

2026

1

January 1 – March 31

April 30, 2026

19

2026

2

April 1 – June 30

July 31, 2026

20

2026

3

July 1 – September 30

October 31, 2026

21

2026

4

October 1 – December 31

March 31, 2027

Other federal programs related to COVID-19 recovery efforts, such as the CARES Act Provider Relief Fund, operate on a calendar-year reporting system, even though many recipients operate on a fiscal year basis that does not coincide with the calendar year. Treasury is not likely to accommodate reporting periods that do not align with current guidance

A recipient of CSLFRF could consider tracking its expenditures and obligations monthly to accommodate reporting benchmarks that differ from the recipient’s operating fiscal year. Monthly captures of financial and programmatic data allow recipients to generate reports for both their fiscal year and annual reports for Treasury more easily and could provide the added benefit of providing more timely and useful financial information to management. This information could be used to produce financial statements that follow a calendar year or any other fiscal year-end and may prove helpful in completing CSLFRF reports for the Treasury.

 

Last Revised: November 17, 2021

[1] Department of Treasury, “Coronavirus State and Local Fiscal Recovery Funds—Compliance and Reporting Guidance,” Version, 2.1, November 15, 2021, at 13-16 available at: https://home.treasury.gov/system/files/136/SLFRF-Compliance-and-Reporting-Guidance.pdf.