Vendors expecting to receive funds from the American Recovery and Reinvestment Act (ARRA), pay attention. The federal government has released new guidelines for information they want for projects and activities related to the economic stimulus law. Called “Implementing Guidance for the Reports on Use of Funds Pursuant to the American Recovery and Reinvestment Act of 2009“, The White House Office of Management and Budget (OMB) says it wants:
Total amount of funds received; and of that, the amount spent on projects and activities;
A list of projects and activities funded by name to include: (a) Description, (b) Completion status, (c) Estimates on jobs created or retained;
Details on sub-awards and other payments.
Seems simple enough. Wrong! The guidance is 41-pages long, and makes a number of references to still other bits of guidance. Plus, the mechanism for actually submitting the information, a new web site called www.FederalReporting.gov will have its own guidance.
The amount of data required of those who receive the funds is greater than other programs, and vendors should take heed. As your customers are required to provide more information, you will be, too. Be familiar with the guidelines so you can help your customers fulfill their requirements. Know, though, that your customers will have their own means for collecting information, based on the ARRA requirements. Like always, pay attention, listen to your customers, and be prepared to deliver strong value.
It’s amazing how paying attention to the fundamentals will help make paying attention to the detailed paperwork easier.