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Special Report: Federal Economic Stimulus

Spotlight on ARRA: An Economic Stimulus Update

As the federal government quickly works to distribute funds via the American Recovery and Reinvestment Act of 2009, much still remains unclear about how agencies and departments will appropriate funding, while simultaneously achieving transparency and regulatory compliance.

Economic stimulus package appropriations total $787.2 billion, with key funding initiatives to support technology, science and research, infrastructure improvements, education, energy, healthcare and training. Spending provisions within ARRA require agencies to have projects under way within 120 days of enactment, dramatically shortening the typical two year business development timeline. 

>>>Read more about ARRA and the impact the Economic Stimulus will have on federal initiatives...

State and Local Government Gains

With an estimated $50 billion in stimulus funding that will flow directly to state and local governments, there is significant potential for technology-related spending, although industry observers maintain there's work to be done as states and localities prepare to efficiently and transparently allocate funds for new initiatives.

Early funding initiatives related to transportation and education are already having a direct impact on state and local government budgets, according to Deniece Peterson, principal analyst for INPUT in Reston, Va. “As monies are doled out for transportation improvements, for example, that in turn, frees other state and local funding for technology-related initiatives,” she explained.

>>>Learn what State and Local governments gain from the Economic Stimulus Package...

The Future of the Economic Stimulus Program

Industry observers maintain a looming workforce shortage, lack of training, the difficulty of balancing current workloads and a lack of extensive program management expertise, are among the biggest obstacles agencies must overcome in the future, as they work to manage projects under the ARRA program.

Market research firm INPUT, Reston, Va., reports that opportunities may exist for suppliers and contractors who can help agencies address management problems. “It would be beneficial to address concerns about program, financial and grants management, for example in proposals for new initiatives,” said Deniece Peterson of INPUT.

>>>Learn what impact the Economic Stimulus package will have now and in the future...

Spotlight on ARRA’s Regulatory and Compliance Issues

Oversight mechanisms designed to ensure transparency and a proper accounting of the funding appropriated via the American Recovery and Reinvestment Act of 2009 are still early in development, and that evolution is presenting numerous challenges for both government organizations and suppliers.

The White House has created numerous standards for accountability, oversight and transparency regarding stimulus funding, and government organizations must find ways to comply. Currently, program data pertaining to stimulus projects from each agency must be aggregated and quarterly reports are required. All reporting must also comply with Office of Management and Budget guidelines, which have rolled out in a ‘fluid’ fashion until now, and must somehow be standardized to make compliance easier,” said Deniece Peterson.

>>>Read more about the Regulatory and Compliance Challenges of the Economic Stimulus Package...

Tips for Making the Most of Stimulus Program Funding

What must the government do to efficiently allocate ARRA funding? What steps can industry suppliers take to make the most of opportunities created by the economic stimulus package? Here are some tips and suggestions to help agencies and industry partners keep the funding initiative rolling forward. These tips were gathered from leading industry observers and recent participants in an Economic Stimulus Conference, held in Falls Church, Va. in June, sponsored by the 1105 Government Information Group.

>>>Check out these valuable tips for making the most of ARRA funding...




Economic Stimulus Program Guide.pdf 
 

This Economic Stimulus Special Report was sponsored by GovConnection: www.govconnection.com.