April 29, 2024
The Joint Budget Committee sponsored House Bill 24-1466, which refinances much of the remaining (previously allocated) ARPA SLFRF funding with General Fund. This bill has been introduced in the legislature and is expected to pass in the coming week. As a reminder, this legislation does not change the substance (timelines, allowable uses, budgets, etc.) of existing appropriations but maximizes current and future flexibility and consistency by avoiding the need for continued programmatic modifications needed to comply with changing federal rules.
The OSC Federal Reporting Team will hold the following fiscal training sessions to cover budgetary, accounting, and reporting requirements related to implementing HB24-1466.
SLFRF Refinance Fiscal Training for State Agencies:
SLFRF Refinance Fiscal Training for Institutions of Higher Education:
*Note that due to limited applicability, the OSC’s Federal Reporting Team will work directly with agencies that were appropriated new SLFRF funds to cover personal services in FY 23-24 and FY 24-25, and this portion of the bill will not be covered in the above listed training.
In addition, the State Controller has created a new Funding Source Change Letter to be used by program and procurement staff to implement this legislation in regards to existing grants and contracts. The OSC Compliance Team will hold training sessions for departments to learn about amending existing SLFRF contracts and grants using this letter and additional guidance on the following dates:
Amending SLFRF Contract and Grants Session 1:
Amending SLFRF Contracts and Grants Session 2:
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