ARPA Fund Compliance Simplified

The American Rescue Plan Act (ARPA) provided substantial funding to States, Counties, and Cities in 2021 to mitigate the economic impact of the COVID-19 pandemic. Recipients of ARPA funds are required to comply with specific ARPA Funds Guidelines outlined by the US Treasury. To enhance compliance with these regulations, PROCORE offers an innovative web-based Project Management & Compliance Reporting solution. This powerful tool assists recipients in effectively and efficiently managing their ARPA funding by state, enhancing accountability, transparency, and utilization of resources.

Features of ARPA Funds Guidelines

Efficient Compliance Management

PROCORE enables entities to establish and maintain internal controls consistent with the ARPA compliance and reporting guidance. By leveraging PROCORE, recipients can effortlessly follow the programmatic and reporting requirements set forth in the ARPA guidelines thereby mitigating the risk of non-compliance.

Streamlined Reporting Process

With PROCORE, reporting requirements become more manageable. The platform simplifies the submission of detailed reports, including obligated and expended costs, as well as required programmatic data. PROCORE's user-friendly interface and intuitive workflows facilitate easy data capture, reducing the time and effort involved in fulfilling reporting requirements.

Enhanced Data Management

PROCORE offers users a centralized repository to securely capture, store, and manage cost and programmatic data related to the use of their funds and ARPA Funds Guidelines. By eliminating repetitive data entry and minimizing the risk of errors or data loss, PROCORE enhances accurate and reliable data reporting capabilities. Recipients can generate comprehensive reports, track progress, and analyze the effectiveness of their projects using PROCORE's robust data management capabilities.

Benefits of PROCORE for ARPA Fund Recipients

Enhances Compliance with ARPA Funding Guidelines

PROCORE plays a vital role in helping recipients adhere to the US Treasury’s ARPA funds guidelines. By streamlining compliance processes and providing clear audit trails, PROCORE enhances transparency and accountability. This showcases responsible financial management and instills confidence in stakeholders and the public regarding the appropriate utilization of ARPA funds.

Time and Resource Savings

PROCORE's streamlined processes save valuable time and resources for recipients. By simplifying data capture, reporting, and compliance procedures, PROCORE enables recipients to focus on their core mission of serving their communities effectively. This efficient utilization of time and resources allows recipients to maximize the impact of ARPA funding on their local communities.

Implementation Best Practices

To optimize the benefits of PROCORE, recipients should familiarize themselves with the ARPA funds guidelines and specific requirements for reporting and compliance. Configuring and customizing PROCORE to align with unique needs and reporting structures is essential. Ongoing training and support for staff members utilizing PROCORE ensure optimal utilization of the platform and promote a culture of compliance.

Streamlined Compliance Reporting

PROCORE simplifies ARPA reporting generation for CSLFRF Program compliance. Users can easily create, edit, and print Quarterly and Annual Project & Expenditure Reports within the platform. Generated reports are saved for future reference, including the ability to download or produce them as audit items if needed.

Conclusion

PROCORE serves as a valuable tool for recipients of ARPA funds. By leveraging PROCORE's capabilities, users can easily understand and navigate the programmatic and reporting guidelines outlined within the ARPA Act and its funding guidelines. This empowers recipients to establish robust internal controls, simplify reporting processes, and effectively manage their ARPA funds. With PROCORE as a trusted partner, recipients can navigate compliance requirements with confidence, ensuring transparency, accountability, and successful utilization of ARPA funds for the betterment of their communities.

To know more visit https://procoresys.com/ or https://www.dcs-dcs.com/procore.