Committees approve COVID‑19 (ARPA) closing plan and issue letter of intent for ongoing reports

The joint committees approved the COVID‑19 relief programs closing budget and authorized fiscal staff to make technical adjustments to align expense authority with recipient agency budgets. They also approved issuing a letter of intent directing the governor’s finance office to provide regular updates to the Interim Finance Committee (IFC) on ARPA Coronavirus State Fiscal Recovery Fund projects.

Why it matters: Nevada received $2.7 billion in state fiscal recovery funds. The committees sought to ensure that remaining obligations and any reallocations after the December 31, 2024 obligation deadline are reconciled within legislatively approved budgets and monitored by the IFC.

Committee action - The committees approved the COVID‑19 relief programs budget account as recommended by the governor and gave fiscal staff authority to make technical adjustments to align authority with other agency budgets that will receive transfers of ARPA funds. - The committees approved issuing a letter of intent directing the governor’s finance office to submit a status report to the IFC at each regularly scheduled meeting. Reports must include a summary of spending for approved programs, identification of any savings following the 2025 session, and updates from the U.S. Department of the Treasury affecting obligations and expenditure deadlines.

Staff context LCB fiscal staff reiterated that the full $2.7 billion award has been fully obligated, and that agencies have reported they expect to fully expend awards. The U.S. Treasury has allowed recipients to reclassify obligated funds between reported activities post‑12/31/2024 in certain circumstances where the receiving project is an allowable use and was obligated by 12/31/2024.

Next steps Fiscal staff will make technical adjustments as necessary during final closings, and the governor’s finance office will produce the reports directed by the letter of intent for IFC review.