Back to Basics
What federal agencies distribute Recovery money? What agencies review Recovery spending to ensure that funds aren’t misused? Every day, it seems, the Recovery Board’s communications department receives calls from news reporters and members of the public asking those fundamental questions and others.
Despite our best efforts to keep all informed, a brief tutorial about agency responsibilities under the Recovery Act, known formally as the American Recovery and Reinvestment Act of 2009, might help.
The essentials of the three-year-old program are these:
- The White House Office of Management and Budget writes the guidelines for the program, including issues relating to spending and jobs data reported by recipients of Recovery funds.
- Federal agencies, 28 of them, distribute funds for contracts, grants and loans to recipients. Some agencies also provide tax credits and entitlements.
- The Recovery Board, consisting of Inspectors General from 12 federal agencies, collects spending and jobs data from recipients of Recovery contracts, grants and loans. The information is posted each quarter on Recovery.gov. The Board also combines a sophisticated analysis center and the work of analysts to assist the IG community in preventing and detecting waste, fraud and abuse.
That’s pretty much it — and, no, the Board is not TARP, otherwise known as the Troubled Asset Relief Program. We are frequently confused with TARP, another government program established to address the economic crisis.
- Michael Wood, Executive Director, Recovery Board