Best Practices in Obligating Coronavirus State and Local Fiscal Recovery Funds

Overview

Obligating Coronavirus State and Local Fiscal Recovery Funds (SLFRF) by December 31, 2024 is essential to ensure a recipient does not have to return funds to the Treasury. There are a number of requirements to properly obligate SLFRF funds and opportunities to make changes to projects after the obligation deadline. In this course, we will define what an obligation is under SLFRF, review guidance from the Treasury, learn how to meet the SLFRF obligation deadline in multiple areas, and identify when changes can be made to estimates, contracts, and subawards after the obligation deadline.

Objectives

• Recall the definition per the obligation IFR and the SLFRF FAQs, Section 17
• Identify how recipients can meet the SLFRF obligation deadline
• Recognize when a change can be made to a project after the obligation deadline

Highlights

• Finance
• IFR
• SLFRF
• Yellowbook