Legislative fiscal staff and the Governor’s Finance Office told the Interim Finance Committee on Oct. 16 that Nevada has obligated nearly all of its American Rescue Plan Act (ARPA) coronavirus State Fiscal Recovery Fund award and has expended roughly 70% to date across the 2022–2025 fiscal years. The state’s award totals approximately $2.7 billion; about $789 million remained on the table at the start of fiscal 2026, staff said.
Analysts identified two large projects that together account for over 50% of the remaining balance: the Home Means Nevada housing initiative (about $227 million remaining) and broadband projects managed by the Office of Science, Innovation and Technology (OSIT) (about $173 million remaining). Fiscal staff said Home Means Nevada is progressing toward full expenditure, and OSIT is still completing permitting and buildout steps on multiple routes.
Office of Federal Assistance and Governor’s Finance Office staff updated the committee about reconciliation work after a cybersecurity incident affected state accounting systems; FY25 expenditures were still under review but preliminary figures had been reported. Committee members pressed staff about the risk of unused ARPA funds needing reallocation before the federal obligation deadline (backup: states must obligate funds by Dec. 31, 2024, and expend by Dec. 31, 2026) and asked for timelines and “drop-dead” cutoffs to identify projects at risk of not spending their allocations.
Governor’s Finance Office staff said they are conducting monthly check-ins with subrecipients and will bring recommendations to deobligate or reallocate funds at the December IFC if projects are not progressing. Officials emphasized options exist to reallocate savings to eligible projects if (a) the receiving project is eligible under SFRF rules and (b) the reallocated funds are obligated (financially committed) by Dec. 31, 2024. The committee asked for a list of at‑risk projects and for status updates at the next IFC meeting.