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ARRA STANDARD OF CARE

sustainableSMARTS contributes significantly to enable our Clean Energy Investment clients to make qualified procurement and investment decisions. Our precedent standard of care and transactions are based on our historic monetization of American Recovery and Reinvestment Act (ARRA) investment capital with the highest degree of transparency and accountability.

Accountability & Transparency
The $787 billion American Recovery and Reinvestment Act (ARRA) is not only the largest single spending bill in U.S. history; it is also is likely to be the most closely scrutinized initiative ever undertaken by the federal government. The legislation itself contains extensive accountability provisions, including the creation of a disclosure website that came to be known as Recovery.gov. Both the Obama Administration and Congress have been acting decisively to implement those provisions. At the same time, a wide range of advocacy groups outside government are pressing for maximum openness in stimulus spending. Here is an overview of the many moving parts in this complicated process.

The Board
The Recovery Accountability and Transparency Board is a non-partisan, non-political agency originally created by the American Recovery and Reinvestment Act of 2009 (ARRA) with two goals:

  • To provide transparency of ARRA-related funds
  • To detect and prevent fraud, waste, and mismanagement of those funds

Under the Consolidated Appropriations Act of 2012, the Board’s authority was expanded to include oversight of all federal funding. And, under the Disaster Appropriations Act of 2013, the Board was mandated by Congress to use its resources to provide oversight of Hurricane Sandy funding.

Mission Statement
To promote accountability by coordinating and conducting oversight of Recovery funds to prevent fraud, waste, and abuse and to foster transparency on Recovery spending by providing the public with accurate, user-friendly information.