EXECUTIVE OFFICE OF THE PRESIDENT
OFFICE OF MANAGEMENT AND BUDGET
WASHINGTON D.C. 20503
FOR IMMEDIATE RELEASE: Monday, June 22, 2009
Contact: OMB Communications, 202-395-7254
Streamlined Approach Ready for Recovery Funding Information
Washington, DC — The White House Office of Management and Budget (OMB) today announced a streamlined web portal and updated transparency plans for reporting on Recovery Act projects around the country.
"The Recovery Act will provide people with an unprecedented level of detail into how their tax dollars are being spent. 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. They will know who is getting the funds and what the dollars are paying for," OMB Director Peter Orszag said.
The OMB guidance directs the prime Recovery funding recipient to report—no later than the tenth day of each new quarter—information including:
- Total funds received and spent;
- Names of organizations brought on board to assist with a project and the amount paid to that organization;
- A list of projects, including location and completion timelines; and
- Jobs associated with each project.
Additionally, if a vendor is paid more than $25,000 to help with a project, the prime recipient needs to report the vendor’s name, how much was paid, and what services the vendor rendered.
The guidance also announced a new web portal, FederalReporting.gov, that will serve as a one-stop-shop for funding recipients to provide their funding information. This centralized reporting solution will reduce the reporting burden on recipients by simplifying reporting instructions and providing a user-friendly mechanism for submitting data.
"The states, companies, and organizations pushing forward with Recovery Act projects have been collecting this data. In turn, we’re putting in place a streamlined, manageable way for them to report and make the information available to the American people," Orszag said.