Treasury Releases Regulations for Federal Funding for Townships
The U.S. Treasury released an Interim Final Rule for the American Rescue Plan funding that all townships will receive in June. The 151-page regulation provides additional guidance about eligible uses and information about reporting. Click here for the press release. Click here for a fact sheet.
PSATS staff and Premier Partner Zelenkofske Axelrod are currently analyzing the rule in preparation for the Virtual Town Hall this Friday, May 14, at 10:30 a.m. In the initial review, there is significant new information about the allowable uses, including calculations for lost revenue, restrictions on premium pay, and clarification that water, sewer, and broadband does include stormwater and more, and details on allowable uses for responding to the pandemic and offsetting its negative economic impacts.
“The American Rescue Plan Act Funding Update” will discuss the ins and outs of the rule. Nobody wants to get this wrong so join us for proper guidance on what is okay and how your expenditures need to be calculated. Click here to register!