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November 5, 2009

Make sure to follow new rules on stimulus jobs

  • New reporting requirements recently took effect for contractors working on federal Recovery Act projects.
    • By JONATHAN A. DEMELLA
    Oles Morrison Rinker & Baker

    DeMella
    WE ALL RECALL THE OUTCRY that occurred when several embarrassing abuses in recent federal government bail-out programs occurred, including huge bonuses paid to executives of failing companies, and expensive perks provided to employees at government expense. Consequently, when the federal government sought to further stimulate our economy by passing the American Recovery and Reinvestment Act of 2009, it imposed measures to promote propriety and transparency in regard to the use of government funds.

    Beginning Oct. 1, federal contractors that receive awards for projects funded by the act must report each quarter on how those funds are used. These new regulations became effective on March 31 and are applicable to any solicitation issued and contract awarded after that date. However, because the government's Web-based “centralized reporting tool” was not ready on time, the first reporting period, covering the previous two quarters, began on Oct. 1 and ended on Oct. 10.


     
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