Date: September 29, 2010
Creator: United States. Government Accountability Office.
Description: Correspondence issued by the Government Accountability Office with an abstract that begins "This letter formally transmits and summarizes an oral briefing we gave on July 29, 2010, in response to Congress' request that we assess the extent to which the descriptions of the uses of American Recovery and Reinvestment Act of 2009 (Recovery Act) funds--published on Recovery.gov--enhance the public's understanding of how funds are being spent and what outcomes are expected. Our briefing focused on activities funded through the Small Business Administration (SBA). The Recovery Act, enacted in response to the economic crisis facing the nation, appropriated a total of $275 billion in funding for distribution by federal departments and agencies through contracts, grants, and loans. The Recovery Act contains numerous provisions to increase transparency and accountability over spending. Accordingly, Congress and the administration have emphasized the need for accountability and transparency in the expenditure of Recovery Act funds. In particular, Section 1512 of the act requires nonfederal recipients of Recovery Act funds through grants, contracts, or loans to provide quarterly reports containing certain information. For example, nonfederal recipients are required to report information on each project or activity, including descriptive information on the uses of Recovery Act awards. The ...
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