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Section 1512 of the Recovery Act required that recipients of any funds made available by appropriations under the Act submit quarterly reports on project progress to a newly estab- lished, independent Recovery Accountability and Transparency Board (Recovery Board).
Reinvestment Act (Recovery Act) became law in February 2009. According to Public Law 111-5, the Recovery Act’s stated purpose is to: • preserve and create jobs and promote economic recovery, • assist those most impacted by the recession, • provide investments needed to increase economic efficiency by spurring
The reporting requirements discussed in this fact sheet incorporate the supplemental requirements of OMB. First, Section 1512 requires recipients and sub-recipients to report on the nature of projects undertaken with Recovery Act funds, and the numbers of jobs created and retained.
Recovery Act Recipient Reporting. In accordance with section 1512 of the American Recovery and Reinvestment Act of 2009 (ARRA), all awards funded by ARRA require quarterly reporting through www.FederalReporting.gov.
Transparency, as defined by the White House, involves the publication of information (in as real-time as possible) that demonstrates fiscal accountability in how, where, when, and by whom, the money is spent. According to the White House, 1512 reporting requirements will answer important questions, such as:
23 kwi 2009 · This part establishes Federal Governmentwide award terms for financial assistance awards, namely, grants, cooperative agreements, and loans, to implement the cross-cutting requirements of the American Recovery and Reinvestment Act of 2009, Public Law 111-5 (Recovery Act).
The Recovery Act provided more than $48 billion for transportation investments in early 2009 and stipulated that most funds be obligated by September 30, 2010. The act targeted the majority of those funds to be channeled through existing aviation, highway, rail, and transit programs.
