Recovery Board Hits the Mark on Recipient Reports
The following post was written by Michael Wood, the Executive Director of the Recovery Board
Some argue that the federal government seldom does anything correctly.
I beg to differ.
On Monday, January 30, for the 10th consecutive reporting period, the Recovery Board will meet its legal requirement for posting spending data on Recovery.gov from recipients of Recovery Act funds. The data, contained in recipient reports, will cover the quarter ending December 31.
The Recovery Act requires recipients to report data each quarter. The process requires agencies to review the quality of recipient submissions, and then the Recovery Board publishes the data on Recovery.gov. The data is posted on the 30th day following the end of the quarterly reporting period — and I am proud to say we have always met that deadline, even when there were major obstacles in the early days of the program.
Although the exact numbers will be updated for posting on Monday, I can tell you now that we collected more than 170,000 quarterly reports from prime recipients and sub-recipients of Recovery awards. The job numbers will be lower than previous quarters, probably the result of the winter months and the slowdown in construction and the completion of more than half the Recovery awards.
The numbers indicate that most of the contracts, grants and loans, valued at $275 billion, have been awarded to recipients, although not all of the money has been spent.
I don’t know if it’s just me, but I’m kind of worried about the Recovery Act. But I’m sure everything will turn out to be fine. $275 billion is a lot of money too!
The numbers indicate that most of the contracts, grants and loans, valued at $275 billion, have been awarded to recipients, although not all of the money has been spent.
Well, first of all that’s a heck of a lot of money. It’s odd that it hasn’t been spent though. I’d spend that very fast lol.
The whole act seems a bit dubious to me though