Gov. Bill Ritter announced new federal reporting requirements for recipients of American Recovery and Reinvestment Act funds, as part of continued efforts to make government more transparent and accountable. The Governor's Economic Recovery Team will host a meeting on Thursday, Jan. 7, to help recipients understand the changes and comply with the new reporting requirements.
"More than $5.7 billion dollars will come to Colorado through the Recovery Act to support struggling families, keep businesses afloat and to create and retain jobs," said Gov. Ritter. "One of my administration's priorities is to make government more transparent. My Recovery Act Team is reaching out to Colorado agencies and businesses receiving Recovery funds to help them submit accurate and timely information on how these funds are being used."
Between now and January 15, more than 400 businesses, nonprofit groups and government agencies across Colorado are expected to submit spending and job data to the federal government. Recipients of grants, loans and contracts must send data to the federal government every three months for the next year or two to comply with Section 1512 of the Recovery Act. This is the second round of reporting.
The data reporting process is overseen by the federal government, mainly through the Office of Management and Budget and the national Recovery Accountability and Transparency Board. Federal agencies have enacted changes for this second round of reporting, which include:
· Changes to how job numbers should be calculated
· Extending the deadline for data submission to January 15, 2010
· Allowing recipients to change their reports until April 2010
· Changes to the online reporting system that will flag potential mistakes, including incorrect congressional districts and job data, before reports can be submitted.
To help recipients and the media understand the changes in the process, the Governor's Economic Recovery Team will host a meeting and conference call on Thursday, January 7, 2010, 1:30 p.m., at the Governor's Office of Information Technology, 601 E. 18th Avenue, Confluence Park conference room, second floor. To access by phone, please call 720-348-8440 and submit room number *1922422*.
As part of an unprecedented level of openness about government spending, all information submitted by recipients in October 2009, has been posted on the national Recovery Act website, www.recovery.gov. Data submitted this month will be posted at the end of the month.
Recovery Act funds are expected to come to Colorado over the next two years. The funds are distributed through income tax cuts, small business loans, research grants, infrastructure projects and investments in growth industries. A county-level breakdown of funds can be found on the state website, www.colorado.gov/recovery.
As part of an unprecedented level of openness about government spending, all information submitted by recipients in October 2009, has been posted on the national Recovery Act website, www.recovery.gov. Data submitted this month will be posted at the end of the month.
Recovery Act funds are expected to come to Colorado over the next two years. The funds are distributed through income tax cuts, small business loans, research grants, infrastructure projects and investments in growth industries. A county-level breakdown of funds can be found on the state website, www.colorado.gov/recovery.
