RECIPIENT REPORTING

Each recipient receiving recovery funds must create a quarterly report containing:

• A detailed list of the projects for which recovery funds were spent, including:
• project titles and descriptions;
• an evaluation of the completion status of the project;
• an estimate of the number of jobs created and the number of jobs retained by the project; and
• for infrastructure investments made by State and local governments, the purpose, total cost, and basis of the agency for funding the infrastructure investment with funds made available under the Act.
• Detailed information on any subcontracts or subgrants awarded by the recipient (to comply with the Federal Funding Accountability and Transparency Act of 2006).

Guidance: Federal agencies, in coordination with the Director of the Office of Management and Budget, shall provide for user-friendly means for recipients of covered funds to meet the requirements of this section.

Registration: Funding recipients required to report information related to subcontractors and subagents must register with the Central Contractor Registration database or complete other registration requirements as determined by the Director of the Office of Management and Budget.

INSPECTOR GENERAL REVIEWS

Any inspector general of a Federal department or executive agency shall review any concerns raised by the public about specific investments using funds made available in this Act. In addition, the findings of such reviews, along with any audits conducted by any inspector general of funds made available in this Act, shall be posted on the inspector general’s website and linked to the Recovery Accountability and Transparency Board’s website.

RECOVERY ACCOUNTABILITY AND TRANSPARENCY BOARD

A special board will be chartered to oversee compliance related to:

• Reporting of contracts and grants of covered funds;
• Procurement and awarding process of competitive bidding;
• Auditing/review of all covered funds to uncover any wasteful spending, or other abuses and whether it requires further investigation to the inspector general;

Powers of the Board: The Board shall conduct audits and reviews of spending of covered funds and coordinate such activities with the inspectors general of the relevant agency to avoid duplication.

The Board may enter into contracts to enable the Board to discharge its duties, including contracts and other arrangements for audits, studies, analyses, and other services with public agencies and with private persons, and make such payments as may be necessary to carry out the duties of the Board.

Flash and Other Reports: The Board shall submit “flash reports” on potential management and funding issues that require immediate attention. The Board also shall submit other reports the Board considers appropriate on the use and benefits of funds in this Act.

Quarterly Reports: The Board shall submit quarterly reports summarizing the findings of the Board and the findings of inspectors general of agencies. The Board may submit additional reports as appropriate.

ADDITIONAL ACCOUNTABILITY AND TRANSPARENCY REQUIREMENTS

Set-Aside for State and Local Government Reporting and Recordkeeping: Federal agencies receiving funds under this Act, may, after following the notice and comment rulemaking requirements under the Administrative Procedures Act (5 U.S.C. 500), reasonably adjust applicable limits on administrative expenditures for Federal awards to help award recipients defray the costs of data collection requirements initiated pursuant to this Act.

Special Contracting Provisions: To the maximum extent possible, contracts funded under this Act shall be awarded as fixed-price contracts through the use of competitive procedures. A summary of any contract awarded with such funds that is not fixed-price and not awarded using competitive procedures shall be posted in a special section of the Board’s website.

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