Coronavirus Relief Fund Update
December 16, 2021
Source: U.S. Department of the Treasury
The U.S. Department of the Treasury has revised its guidance for the Coronavirus Relief Fund (CRF), which was established by the Coronavirus Aid, Relief, and Economic Security Act (CARES). Under the CARES Act, CRF funds may be used for costs incurred by December 31, 2021. Treasury had previously determined that, for a cost associated with the acquisition of a good or service or the acquisition of or improvement to real estate to be considered to have been incurred within the covered period, performance or delivery must have occurred during the covered period.
Treasury is now revising the guidance to provide that a cost associated with a necessary expenditure incurred due to the public health emergency shall be considered to have been incurred by December 31, 2021, if the recipient has incurred an obligation with respect to such cost by December 31, 2021. Treasury defines obligation for this purpose consistently with the Uniform Guidance definition in 2 C.F.R. 200.1 as an order placed for property and services and entry into contracts, subawards, and similar transactions that require payment.
Treasury’s reporting framework currently permits recipients to record their expenditures through September 30, 2022. The CRF’s eligible use is restricted to “necessary expenditures incurred due to” the COVID-19 public health emergency. Treasury currently expects that this expenditure deadline will provide a sufficient amount of time for recipients to expend their funds in accordance with the eligible uses of the CRF. Treasury has made certain adjustments to its frequently asked questions to reflect this revision and will provide recipients subsequent updates as to how this change will be reflected in the CRF reporting requirements.
The remainder of Treasury’s guidance remains in effect.
More information regarding the Coronavirus Relief Fund is available here: https://home.treasury.
More information regarding this revision is available here: https://home.treasury.
Treasury’s guidance regarding the use of funds is available here: https://home.treasury.
Information about reporting and recordkeeping requirements related to CRF payments is available here: https://oig.treasury.
Questions on the Coronavirus Relief Fund can be sent to coronavirusrelieffund@
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