1 / 2

Spending Federal Stimulus Funds in FY10

Spending Federal Stimulus Funds in FY10. Finance and Administration Advisory Group November 18, 2009. Spending of Federal Stimulus Money. One of key factors in balancing FY10 budget is federal stimulus money. After 9C cuts, UMass Boston’s FY10 stimulus allocation is $25.6M.

kaleb
Download Presentation

Spending Federal Stimulus Funds in FY10

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Spending Federal Stimulus Funds in FY10 Finance and Administration Advisory Group November 18, 2009

  2. Spending of Federal Stimulus Money • One of key factors in balancing FY10 budget is federal stimulus money. • After 9C cuts, UMass Boston’s FY10 stimulus allocation is $25.6M. • UMass Boston is using federal stimulus funds for payroll. • Consistent with spirit of American Recovery and Reinvestment Act (ARRA), which is to preserve and create jobs. • Reduces campus’s administrative and reporting burden. • With payroll, we can control spending rate to ensure all ARRA money is spent by end of FY10. • Use of ARRA funds will be transparent to campus: • Beginning 11/27/09, we will shift payroll from state appropriation (fund 11000) to new fund (13250) for 6-7 payrolls, until all ARRA money is spent. • You will see change in your unit’s financial reports. • No impact on paychecks, pension or other benefits.

More Related