Total ARRA Funding as of December 31, 2012 |
| Funds Awarded – Contracts, Grants, Loans |
$283,082,852,208 |
| Entitlements Paid Out |
$237,958,175,112 |
| Tax Credits Paid Out |
$290,700,000,000 |
| Grants in Lieu of Tax Credits |
$22,000,000,000 |
| Total |
$804,222,295,642 |
Contract, Grant, and Loan ARRA Funds as of December 31, 2012 |
| Appropriations |
$296,608,084,469 |
| Funds Awarded |
$283,082,852,208 |
| Funds to be Awarded |
$6,386,473,139 |
| Expired Funds |
$2,540,646,818 |
In early 2012, the Board initiated a project to review the status of all ARRA funding. Starting with the appropriations specified by Congress in the Recovery Act, the goal was to determine, agency by agency, the total funds awarded, the funds still to be awarded, and any expired funds.
The Board collected data on contract, grant, and loan awards, plus funds paid out for entitlements, tax credits, and Grants in Lieu of Tax Credits (two Treasury Department cash payment programs) to produce the overall picture of ARRA funding.
After the
June 12, 2012
data was posted, the Board collected the data as of
December 31, 2012. However, the Tax Credit data has not been updated because the Office of Tax Analysis
submitted final data on the ARRA tax credits in June 2012.
ARRA spending data for the
Inspectors General was also collected as of December 31, 2012.
Contract, Grant, Loan and Entitlement Details
Tax Credit Details
Inspector General Funding Status Report
Untitled 1 |
|
Terms Used in This Report
appropriations: Amounts
designated by Congress for specific programs
funds awarded: Amounts distributed by agencies in the form of contract, grant, and loan awards
to be awarded: Difference between the appropriations
and the funds awarded
expired: Amounts that agencies did not distribute by the deadlines in the Recovery Act, deadlines in the Dodd-Frank
Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), or deadlines set by the Office of Management and Budget.
Untitled 1 |
|
Appropriations
In the Recovery Act, Congress designated specific amounts for programs, such as broadband, medical research, clean water, and high speed rail. Entitlements and tax credits do not receive appropriations.
Contract, Grant, Loan and Entitlement Details
Click image to enlarge
Untitled 1 |
|
Funds Awarded
Click image to enlarge
Every agency receiving ARRA appropriations distributed the funding in the form of contract, grant, and loan awards. Each week,
the agencies are required to submit Financial and Activity reports outlining
the cumulative amounts of the awards made to states, non-profit
organizations, universities, and large and small companies.
Contract, Grant, Loan and Entitlement Details
Untitled 1 |
|
Funds To Be Awarded
Click image to enlarge
Untitled 1 |
|
Expired Funds
Click image to enlarge
In order to push ARRA funding into the economy quickly, Congress set
specific deadlines in the Recovery Act for the federal agencies to
distribute the funds. Of the $297 billion appropriated for contracts,
grants, and loans, as of December 31, 2012 more
than $2.5 billion expired — meaning the appropriations were not awarded or
used within specified time frames. Agencies might also have adjusted an
award amount if funds were returned to the agency.
The expired funds are kept on an agency’s books for five years to cover invoices for the projects.
At the end of the five years, the funds are returned to the Treasury.
In addition to the deadlines in the Act, the Dodd-Frank Act and the Office of Management and Budget also
gave agencies deadlines to distribute funds.
Contract, Grant, Loan and Entitlement Details
Untitled 1 |
|
Recipient Reported Information
To provide transparency on all ARRA funding and awards, the Board pulled the data reported by the recipients of ARRA contract, grant, and loan awards as of December 31, 2012. The recipients had reported on 278,490 awards and indicated that cumulatively from February 2009, the total amount awarded for contracts, grants, and loans was
more than $275B and the total received amount was approximately $231B.
Contract, Grant, Loan and Entitlement Details
Recipient Reported Information as of December 31, 2012 |
| Amount Awarded |
$275,171,135,956 |
| Amount Received |
$230,927,944,074 |
Style Library/Reuseable/FNS-RECIPIENTREPORTEDINFO.htm
|
|
Methodology for Collecting Data
Click image to enlarge
The appropriation amounts were gathered directly from the Recovery Act; the funds-awarded amounts for contract, grants, loans, and entitlements
were gathered from the weekly Financial and Activity Reports submitted by the agencies; and the tax credit data
was gathered from the IRS.
To determine the funds still to be awarded, the funds awarded were subtracted from the appropriations amounts. Using deadlines designated in the
Recovery Act for certain programs, the deadline of December 31, 2012 for awarding all Recovery funds in the Dodd-Frank Act, and deadlines in
guidance issued by the Office of Management and Budget, the Board staff was able to establish the expired funds for each agency.
The Board staff and the Inspectors General at each of the 28 agencies receiving ARRA funds worked with the agencies to verify the data and, when necessary, send corrections or changes to the Board. The data will be updated quarterly.
Contract, Grant, Loan and Entitlement Details
Untitled 1 |
|