Treasury, January 2024 Quarterly Reporting Analysis
Summary
Treasury's analysis of State and Local Fiscal Recovery Funds (SLFRF) reports covering spending through December 31, 2023. Treasury says states and the largest cities and counties had budgeted 92% of their total SLFRF funds to specific projects and that reported projects grew 8% since the previous quarter. Recipients reported $510 billion in lost revenue resulting from the pandemic; more than 19,000 governments were budgeting nearly $122 billion in SLFRF funds to replace lost revenue, funding more than 59,000 projects. The document says "a significant portion" of the shortfall is being made up for with SLFRF funds. Annual reporters' figures are still those through March 31, 2023. The analysis credits President Biden's American Rescue Plan with helping local leaders avoid steep budget cuts.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
Cite this document
“Treasury, January 2024 Quarterly Reporting Analysis.”
Original at home.treasury.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/treasury-january-2024-quarterly-reporting-analysis-b35e19545a/
, SHA-256 bdb781e48d6844cc6bd65b67970f9689b7d19c862c006ec233ae000e82327de7.Full text
State and Local Fiscal Recovery Funds: Supporting Equitable
Recovery and Building Resilience for Stronger Communities
State and Local Fiscal Recovery Funds January 2024 Reporting Data Analysis
President Biden’s American Rescue Plan is helping communities across the country
recover from the COVID-19 pandemic and grow their economies. The State and Local
Fiscal Recovery Funds (SLFRF) program, a major facet of the American Rescue Plan,
provides funding to states, territories, Tribes, and local governments to support
economic recovery, job creation, workforce expansion, and access to healthy, safe, and
affordable housing. Today, the SLFRF program is making a difference in nearly every
community across the country.
In the latest quarterly data submitted to the Treasury Department, through December
31, 2023, recipients continue to report progress in executing on their planned uses of
SLFRF award funds. States and the largest cities and counties have reported budgeting
92% of their total SLFRF funds to specific projects, with the total number of reported
projects growing 8% since the previous quarter, demonstrating continued steady
progress in recipients’ planning for the use of these funds.1
The data continue to show that by helping state and local governments replace lost
revenue, the SLFRF program has helped local leaders avoid steep budget cuts. Using
their SLFRF award funds, governments maintain key services and infrastructure, such
as public transportation connecting workers to jobs and emergency services. 2 As of
December 31, 2023, SLFRF recipients reported $510 billion in lost revenue resulting
from the pandemic. A significant portion of this revenue shortfall is being made up for
with SLFRF funds. More than 19,000 participating governments reported that they are
budgeting nearly $122 billion in SLFRF funds to help replace this lost revenue,
funding more than 59,000 projects to provide fiscal stability in their jurisdictions.
1
The U.S. Department of the Treasury continues to regularly release SLFRF reporting data received from
recipients. This includes the most recent data submitted by quarterly reporters in January 2024, representing
spending through December 31, 2023, which is available on Treasury’s SLFRF dashboard. The summary statistics in
this blog post reflect these data, as well as the data from annual reporters submitted in April 2023, representing
spending through March 31, 2023. Tribally reported information is included in aggregate statistics about the
SLFRF program (e.g., the total number of governments using funds for a specific eligible use, total projects
reported); however due to privacy considerations, Treasury does not release complete information on all Tribal
projects.
2
State and local governments were forced to cut budgets due to the 2008 Great Recession resulting in reductions
in services and slowing the economic recovery. Remarks by Secretary of the Treasury Janet L. Yellen at National
Association of Counties 2023 Legislative Conference | U.S. Department of the Treasury
1
The data illustrate that the American Rescue Plan prevented severe cuts to public
services and helped state, territorial, Tribal, and local governments swiftly resume
normal operations. In addition to responding to the immediate aftermath of the
pandemic, governments are investing SLFRF funds to address long-standing
structural challenges in the economy that the pandemic surfaced and exacerbated,
especially the need to increase the availability of affordable housing and invest in
their workforces.
Key SLFRF Investments through December 31, 2023, for State, Local,
Territorial, and Tribal Governments3
Reported Number of Number of
Funds Governments Projects
Category Budgeted Pursuing Reported
Housing: Emergency Aid, Affordable
$19 Billion 968 3,197
Housing, Homelessness
Infrastructure: Water, Sewer, and
$33.2 Billion 3,398 15,073
Broadband
COVID-19 Public Health Response** $11.7 Billion 1,731 6,592
Worker Support: Unemployment Aid, Job
Training, Public Sector Workforce, $13.1 Billion 2,139 4,445
Essential Worker Premium Pay
Small Business Assistance $5 Billion 724 1,653
Childcare and Early Learning $1.5 Billion 275 493
**Includes vaccinations, testing, contact tracing, personal protective equipment, prevention in
congregate facilities, medical expenses, and other public health measures.
3
This chart includes the most recent project and expenditure reporting received by Treasury for quarterly
reporters.. Specifically, it includes data reported by quarterly reporters (states, territories, and metro cities and
counties with a population over 250,000 or an allocation more than $10 million; Tribal governments with an
allocation more than $30 million; and non-entitlement units of local government allocated more than $10 million)
through December 31, 2023, and data received from annual reporters (metro cities, counties, and non-entitlement
units of local government with populations less than 250,000 and an allocation less than $10 million, and Tribal
governments with an allocation less than $30 million) through March 31, 2023.
2
The following examples come from data reported by SLFRF recipients to the Treasury
Department.4 These examples provide a snapshot of the types of projects that recipients are
implementing across key eligible use categories of SLFRF funds. 5
Increasing the Number of Affordable Homes
Investing in and expanding access to affordable homes is a key goal of the Treasury
Department and the Biden-Harris Administration. Governments across the country are
leveraging SLFRF award funds to construct new homes and rehabilitate or repair
existing ones. Treasury encourages jurisdictions to consider using their SLFRF funds to
support housing stability, the construction and preservation of new affordable homes,
or to supplement other American Rescue Plan programs aiding renters and
homeowners, such as the Emergency Rental Assistance program and the Homeowner
Assistance Fund. In the summer of 2022, Treasury expanded the flexibility for
recipients to use their SLFRF funds to invest in making homes more affordable. Since
then, spending on affordable housing continues to accelerate. Compared to data from
July 2022, SLFRF funds budgeted for long-term affordable housing stability,
preservation, and construction increased by 65% to a total of $7.4 billion, and this
funding is supporting more than 25,000 units of affordable housing. Since last quarter,
communities have increased their SLFRF budgets for housing investment by 4%. And
in early March, Treasury announced new guidance to substantially expand the universe
of affordable housing projects presumptively eligible to be funded through SLFRF. As
Deputy Secretary Wally Adeyemo noted in a blog post, this includes housing that meets
the needs of teachers, firefighters, nurses, and other workers increasingly priced out
of certain markets.
The following are a sample of activities being undertaken by SLFRF recipients to
increase the supply of affordable homes:
Adams County, Colorado is allocating approximately $3 million for its Affordable
Housing Land Bank program. Eligible entities, such as local housing authorities or non-
profit developers, can apply for funds to acquire land for the future development of
affordable housing. Projects funded under this program will remain affordable for a
minimum of 40 years for rental properties and permanently affordable for sale units
under a land trust model.
4
The examples included throughout this post are based on recipients’ reports, and their inclusion in this document
does not constitute approval of these projects by Treasury.
5
This analysis includes data from quarterly Project and Expenditure reports covering the period ending December
31, 2023. Recipients file either annually or quarterly based on population and allocation size.
3
Athens-Clarke County, Georgia is investing more than $4 million to build 20 affordable
single-family owner-occupied homes for low- and moderate-income homebuyers.
The City of Detroit, Michigan is utilizing an additional $13 million for 353 new
affordable housing units in different areas of the city. An additional 16 units of
affordable housing will be preserved.
Maricopa County, Arizona is utilizing $2 million to rehabilitate and repair approximately
68 owner-occupied homes for eligible income households.
The City of Grand Rapids, Michigan is leveraging nearly $5 million to improve an
existing 10-unit affordable rental development for seniors and to add an additional 10
units of housing at the site.
The City of Longmont, Colorado is allocating $1.3 million to purchase land for the
future construction of affordable apartments. The development will eventually include
187 units of affordable housing.
The Lac Courte Oreilles Band of Lake Superior Ojibwe estimates that there is a
housing shortage of nearly 500 homes in the community. In addition to addressing
overcrowding, the housing shortage makes attracting workers such as teachers,
healthcare workers, and other professionals a challenge. The Tribe invested SLFRF
funds to build a 40-unit apartment building with one- and two-bedroom units.
Mahoning County, Ohio is budgeting $150,000 to add six units of affordable housing
for nontraditional students, young professionals, and small families.
Enhancing the American Workforce
Another area of investment of SLFRF funds is supporting and expanding the workforce
in response to the negative economic impacts of the pandemic in communities across
the country. Primary areas of workforce investment include helping impacted workers
enter in-demand careers, with a particular focus on assisting people who face barriers
to employment. In addition, these investments are providing communities with tools and
resources to ensure that Americans can get the skills they need to take advantage of
the jobs created by President Biden’s Investing in America agenda. The Bipartisan
Infrastructure Law, the CHIPS and Science Act, and the Inflation Reduction Act are
expanding economic opportunity to urban and rural communities in every corner of the
United States, and the SLFRF program's investments in workforce development are
4
making sure that those opportunities are available to American workers – regardless
of having a college degree.
The following are a sample of workforce projects reported by SLFRF recipients:
Bay City, Michigan is budgeting $500,000 for a program to provide youth in the city
with work experience. Services will include assessment, tutoring, school services, work
experience, skill training, adult mentorship, and more.
The State of Nebraska is investing $41.7 million into 11 programs aimed at bolstering
the workforce. The various facilities and programs will feature trainings focused on a
variety of skills such as: powerline construction and maintenance, welding,
construction, automotive, advanced robotics and automation, as well as training nurses
and paramedics.
Niagara County, New York is utilizing nearly $1.8 million for Niagara County Community
College to construct a welding and metal working laboratory environment of
approximately 4,000 square feet.
The State of Ohio is allocating more than $2.3 million to create a workforce training
center and training services in Salineville, Ohio. The project is part of the Appalachian
Community Grant Program to create transformational change in Appalachian counties
of Ohio.
Portage County, Wisconsin is allocating nearly $700,000 to purchase state-of-the-art
laser welding training equipment. Welding is a key component of the County’s
manufacturing environment and laser welding represents an advancement in available
technology. The equipment will be deployed in a training center lab.
The City of Grant Traverse, Michigan is budgeting $500,000 to provide educational
training for skilled employees in the aviation mechanics industry.
The County of Riverside, California is budgeting $2.5 million to create a K-16
workforce education center at Mount San Jacinto College’s Temecula Campus. The
center will provide training in a variety of fields including next generation automotive
maintenance, healthcare, advanced manufacturing, utilities, and bio-tech.
The City of St. Louis, Missouri is using more than $4.2 million to expand the pipeline
of contractors and developers by establishing a training facility and associated
programming, subsidizing contractor insurance and bonding costs, providing capital for
capacity building, and subsidizing construction apprenticeships.
5
The Mescalero Apache Tribe is aligning staffing needs with skills required to fill
critical positions. The Tribe is implementing a workforce development program
focusing on vocational education. The program will provide scholarships to citizens and
current employees to obtain certificates and further education in welding, carpentry,
plumbing, electrical, and more – all critical and in-demand jobs to carry out the Tribe’s
COVID-19 recovery plan.
Snohomish County, Washington is allocating more than $400,000 to support high-
school youth and young adults via a subsidized employment program that builds skills
in natural resources, construction, and maintenance, which are common occupations in
the rural area.
The State of Virginia is utilizing $2.7 million to develop a Commercial Driver’s License
(CDL) training program and driving range at Blue Ridge Community College.
Fortifying Small Businesses
SLFRF recipients have invested in a wide variety of programs that support small
businesses’ role as key employers and drivers of local economies, utilizing federal
funds to sustain the continued record growth in small business creation. Through
December 31, 2023, governments have budgeted more than $5 billion for more than
1,600 projects to support small businesses and small business development.
Examples of small business projects reported by SLFRF recipients include the
following:
Fairfax County, Virginia is allocating $7 million for their Fairfax THRIVE Technical
Assistance Grant program. The THRIVE program will provide business counseling and
other technical assistance services to help small businesses address economic and
consumer shifts brought on by the pandemic and support future business planning to
increase their resiliency, weather the financial hardship, mitigate financial insecurity,
and improve operations. It is estimated that approximately 600 businesses will have the
opportunity to receive consulting services.
The Blackfeet Nation utilized SLFRF to host an agricultural summit for Tribal citizen-
owned farms and producers. A combination of market conditions, severe weather, and
the pandemic hit farm families hard. The summit provided education on services and
federal programs to assist in economic recovery.
6
Johnson County, Iowa is budgeting $75,000 for their Starting Strong Program. This
program will recruit new child development home providers and make training and
support available to increase the number of affordable, accessible, and quality
childcare providers in the County.
The State of Nebraska is utilizing $750,000 to create a Business 101 Training program
that will be mirrored after a program deployed in Metro Omaha by the GROW Nebraska
Women’s Business Center.
Washington County, Oregon is leveraging more than $1 million in SLFRF funds to
provide small businesses and entrepreneurs access to resources and professional
development. A key focus of this program is building capacity within community-based
organizations to expand services provided to small businesses. This includes technical
assistance, access to capital, and professional development opportunities for service
providers throughout the County's geography, notably in unincorporated areas not
served by city programs.
Will County, Illinois is allocating $900,000 to engage and collaborate with small
business owners, enhance microbusiness support, and provide assistance for business
incubation, startups, and expansion.
Delivering High-Speed Internet Access
SLFRF funds are being invested to strengthen the country’s internet infrastructure by
laying fiber backbone, completing last-mile connections, and prioritizing equitable
access to broadband. These investments provide residents with access to education,
health care, government services, and economic opportunity. As of December 31, 2023,
SLFRF recipients budgeted more than $8.2 billion in SLFRF funds for more than 1,300
broadband internet projects. The SLFRF funds invested in broadband projects
complement the American Rescue Plan’s expansion of affordable highspeed internet
access through Treasury’s Capital Projects Fund, as well as the Bipartisan
Infrastructure Law.
The following are a sample of broadband projects reported by SLFRF recipients:
7
Carrol County, Maryland is budgeting nearly $7 million to provide last mile connections
to small, rural, and unserved areas so that households will have access to remote work,
telehealth, and educational opportunities.
Madera County, California is utilizing $1.5 million to deploy fiber internet into
unincorporated communities where no broadband service of any speed is currently
available to residents.
The State of Montana is leveraging $27.5 million to deploy 431 miles of fiber to more
than 4,000 homes, businesses, and community institutions.
Taney County, Missouri is budgeting $4 million to extend fiber broadband to more than
14,400 end-users.
Loudon County, Virginia is allocating more than $2 million to bring fiber internet to
approximately 8,600 unserved residents and businesses in rural portions of the county.
The Southern Ute Indian Tribe has a territory that expands across three counties in
Colorado. The Tribe’s “Broadband Band Modernization Project” braids its SLFRF award
funds with other sources of broadband funding to provide 95 percent of the
reservation’s new construction and existing homes with fiber optic internet.
Warren County, Ohio is using $4.8 million to bring high speed internet to lower income
areas in the county, including underserved households and businesses that have never
had access to broadband.
Upgrading Water and Sewer Infrastructure
Recipients may use SLFRF funds to invest in critical water and sewer infrastructure to
improve access to clean drinking water and to support vital wastewater and stormwater
projects. To date, governments have invested $4.1 billion in more than 2,300 projects to
meet their water, wastewater, and stormwater goals.
Examples of water and sewer projects reported by SLFRF recipients include the
following:
The Bay City, Michigan is utilizing $4 million to replace lead water lines.
Luzerne County, Pennsylvania is utilizing $8 million to maintain and improve the
Wyoming Valley Stormwater System. Climate change has resulted in an increase in the
frequency and severity of storms – increasing the risk of flooding along the
8
Susquehanna River. The stormwater system protects approximately 100,000 residents
and 14,000 structures from flooding. The funding will be used to enhance the
stormwater systems integrity, longevity, and reliability.
The Ohkay Owingeh Tribe committed SLFRF for two major wastewater projects to
address deteriorating pipes and corrosion of the current treatment facility. The failure
of the existing plant would likely cause 175,000 gallons of raw sewage and untreated
runoff to spill, which could result in catastrophic flooding and a severe health hazard.
The Seneca-Cayuga Nation is upgrading antiquated technology systems within its
water and wastewater treatment plant with SLFRF. The system updates include
cybersecurity and hardware and software to ensure pumps, motors, and other
equipment run effectively and efficiently.
The State of Mississippi is using $739 million for 677 water and sewer projects. For
example, $2.5 million is being used to improve the Old Union Water System by installing
a new 400 gallon per minute well, new 100,000 gallon elevated storage tank, and more
than a mile of new water mains.
The State of Montana is budgeting more than $371 million across 423 water and sewer
projects throughout the state. For example, $4.4 million is being used for water main
replacement in the City of Billings. The project will provide clean and dependable
drinking water by replacing old water mains, reducing operating and maintenance
costs, and improving safety by removing lead pipes.
The State of Oklahoma is budgeting $2 million to construct sewer and water lines,
manholes, and other appurtenances on 160 acres of land owned by Habitat for
Humanity. The Central Oklahoma Habitat for Humanity will build affordable housing on
the site.
The State of South Dakota is leveraging $604 million across nearly 249 water and
sewer projects. For example, nearly $19 million is allocated to increase the capacity of
the City of Aberdeen’s wastewater treatment facility. Another project is utilizing
approximately $14.5 million to install 50 miles of clean water piping along with a
metering and control station.
The State of West Virginia is budgeting nearly $1.4 million to improve the efficient
removal of grit and debris from water, which will help improve other operations in the
treatment process and reduce future maintenance requirements.
9
These opportunities are possible because the economy is in a stronger place today as
a result of the American Rescue Plan. Looking forward, the Treasury Department
remains focused on ensuring that recipients can leverage their SLFRF award funds to
meet the unique needs of their communities in ways that will power inclusive and
equitable economic growth for decades to come.
10
File and source
- File
- TREAS-January-2024-Reporting-Blog-Post.pdf
- Size
- 348,689 bytes
- SHA-256
- bdb781e48d6844cc6bd65b67970f9689b7d19c862c006ec233ae000e82327de7
- Original
- home.treasury.gov