Reports

This report provides the results of our analysis of how local government revenues will be affected by the economic downturn currently under way in Louisiana resulting from the COVID-19 pandemic and the reduction of oil prices. Specifically, this report provides estimates of how the current economic crisis will impact local government finances, particularly through sales and ad valorem tax collections, as well as mineral related revenues (i.e., severance taxes and mineral royalties).

On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Among its provisions, the CARES Act provided the U.S. Department of the Interior (DOI) with $756 million to support the needs of DOI programs, bureaus, Indian Country, and the Insular Areas.This report presents the DOI’s progress as of April 28, 2020, in spending CARES Act appropriations. Specifically:• Total expenditures are $168,719,791 and total obligations are $387,887,389.• A total of 491 grants and contracts have been awarded, with total value of $390,845,278.•...

Memorandum: Auditor Office has begun to examine the State's distribution and spending of more than $1.3 billion of federal funding that has been or is expected to be received via the federal pandemic response/stimulus acts – including the CARES Act.

The Department of Administrative Services (DAS) made progress on 11 of the 16 recommendations from the original audit, fully implementing six. COVID-19 response and preparation for the 2021-23 budget made it difficult for DAS to implement some recommendations, specifically those pertaining to end of biennium spending. Additionally, the agency’s choice to deviate from standard response options in four recommendations made our follow-up work more difficult and limited accountability and transparency.

Memorandum: The state recognized that some sheriff departments sought and received loans through SBA. Other state governmental entities may have also received PPP loans or may be considering applying for them.

This special report provides information to assist Berkeley’s leaders in navigating the financial challenges ahead. We conducted interviews and reviewed data from government finance and budget officials to compile information on estimates of how the COVID-19 pandemic will affect the local economy and Berkeley’s revenues and expenditures; and considerations from government finance and budget officials for the City Manager and Council to inform decisions about how to manage resources as revenues decline and expenditures increase.

SIGTARP Recommends Treasury Put To Better Use Unspent Funds In Tarp To Enhance Existing Unemployment Mortgage Assistance Through Hardest Hit Fund In Light Of Recent Significant Unemployment