PUBLIC SECTOR: FEMA Public Assistance expedited funding – What you need to know for COVID-19 aid
To address the need for quicker funding in extraordinary circumstances, like the COVID-19 pandemic, FEMA allows applicants to apply for expedited funding for “Emergency Work” projects, defined as “work which must be done immediately to save lives and to protect improved property and public health and safety, or to avert or lessen the threat of a major disaster.” These “expedited” projects are designed to advance funding to applicants earlier in the Public Assistance lifecycle as compared to standard, non-expedited projects.
To request an expedited project, applicants must provide FEMA with detailed lists containing high-level descriptions of activities the applicant has performed, or will perform. PA activity descriptions must include:
- How the activities were or will be performed;
- How the threat created a necessity for action;
- Locations where activities were or will be performed; and
- Dates emergency work was or will be performed.
FEMA is required to disallow all ineligible or unsupported costs. To avoid de-obligation of PA funding, it’s critical that applicants sufficiently document costs by type. Knowing which information to capture during emergency work implementation is key.
- Number of personnel; hours per day; days per week
- Pay rates
- Type of equipment; operator names; hours per day; days per week; and hourly rates for all applicant-owned equipment
- Rental agreement with pricing for rental or leased equipment
- Purchase price, if equipment is purchased
- Amount of materials, by type
- Costs to purchase or replenish stock
- Copy of request for proposals or bid documents; signed contracts, if available. If contracts are not available, provide unit price estimates with their basis/justification (e.g., historical pricing, vendor quotes).
CohnReznick has reviewed hundreds of millions of dollars in expedited project costs. Below are our recommendations to ensure that you receive and keep the maximum amount of expedited funding.
Frank Banda, CPA, CFE, CGMA, PMP, Managing Partner – Government and Public Sector Advisory
Coronavirus Resource Center
InsightWebinar recap: 2023 FASB update for not-for-profit and educational organizationsCatherine Syslo, Jason MintzThis webinar recap highlights FASB accounting standards that all not-for-profit and educational organizations need to consider for 2023.
Insight2023 GAUGE Report: Lead by ForecastingOur 2023 GAUGE Report includes tips, techniques, and tools to help enable GovCon companies to produce various types of forecasts and benefit from the profound positive impacts.
InsightP3 in Higher Ed: Bridging gaps for sustainable growthArthur Simonson, Chris Livingstone, Allison GuttenplanPublic-private partnerships (P3) can be a great option for higher education institutions that are tight on funds but want to expand or improve facilities. However, there are also risks. Learn more.
InsightHigher education institutions: Are you ready for your audit?Patricia McGowanIn order to prepare for audit season, higher education institutions need to focus on financial condition and results, new accounting and auditing standards, regulatory compliance requirements, and more.