SLFRF Explainer: Obligating Revenue Replacement

This U.S. Treasury video is a clip from the original recording webinar Treasury held for State and Local Fiscal Recovery Funds recipients in March 2024, and provides recipients with “how-to” step-by-step instruction to obligate the Revenue Replacement portion of the State and Local Fiscal Recovery Funds (SLFRF) reporting requirement, as well as determine their obligation status.
Based on their reporting tier, SLFRF recipients are required to submit completed Project & Expenditure reports quarterly or annually to Treasury. Improperly obligated Revenue Replacement may result in the recipient’s jurisdiction having to return SLFRF funds. If SLFRF recipients intend to expend SLFRF funds under the Revenue Replacement provision, then they MUST enter a corresponding EC 6.1. project to obligate and expend those Revenue Replacement funds.