The White House has launched a new Web site designed to assure that state governments and other recipients of federal economic stimulus funds fully report information on how the money is spent.
FederalReporting.gov will serve as the “one-stop-shop” for all information on the funding, according to the Office of Management and Budget. The agency’s new guidelines apply to recipients of grants, loans and tribal agreements paid out with stimulus funding. It also applies to to contractors who get stimulus funding from the original recipients.
“People will be able to see who is receiving funds, what projects are underway, how money is being spent, and how many jobs are being created or saved,” OMB Director Peter Orszag said in a statement. “They will know who is getting the funds and what the dollars are paying for.”
Funding recipients must report all relevant information no later than the tenth day of each quarter and provide information on the total funding received and spent; the names of organizations used to help with stimulus-funded projects and the amount they receive; a list of all projects; and jobs associated with each project. (Read through the full details on OMB’s Web site.)
If a vendor earns more than $25,000 for a stimulus project, the contracting entity must report the vendor’s name, the amount paid to them and what services they provided.
This is excellent.