Tips for Administering CARES Act Funding for Governmental Organizations
The CARES Act made extra funds available to state and local governments. A recent article from Government Technology offers advice to finance directors for allocating the available funds in a timely and efficient manner. The article is based on an interview with Justin Marlowe, a research professor at the University of Chicago’s Harris School of Public Policy and senior fellow for the Center for Digital Governance.
In the course of the interview, Marlowe offers the following advice regarding the administration, allocation, and reporting of funding received via the CARES Act:
- Finance directors should pay close attention to federal guidelines in order to ensure that they are using CARES Act funds appropriately.
- Organizations should seek out expenditures that qualify as “extraordinary items” per GASB regulations. They should take care to present both financial and non-financial performance data clearly in justifying the expenditures.
- Technology is a great area of use for CARES Act funds, especially technology that enables remote teams to function well.
- Finance directors should be sure to carefully document all CARES Act fund expenditures in order to streamline the future audit that will examine the use of the money.
For further details, click here to read the article in full at Government Technology.