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What Accounting Considerations are needed Tracking and Managing Coronavirus Recovery Costs

Emergency responses and urgent public health responses are critical priorities. However, financial disaster recovery from the Covid-19 Pandemic response actions will become an essential budget issue in light of reducing tax revenues and increased demand for services.

Accounting Considerations -Tracking and Managing Coronavirus Recovery Costs

Recognizing the logistical and bureaucratic challenges this unprecedented response effort will bring, FEMA is actively working to develop a simplified application and funding process. Your experience with the FEMA Public Assistance Covid-19 Simplified Grant Process will be materially less administratively painful with smoother quicker reimbursement of costs:

 If you accurately track and document COVID-19 response expenditures, 

 It is essential to consistently use activity/cost codes for COVD19 on all purchases of material, labor, supplies, contracts, services, and equipment that are directly related to responding to the COVID-19 pandemic.

 ü  The cost coding systems used by your entity will depend on your supporting technology for operations accounting for payroll, materials/supplies, contracts, and purchasing order protocols.

 

FEMA Public Assistance program is a REIMBURSEMENT program.

Applicants for Public Assistance MUST TAKE IMMEDIATE PROACTIVE ACCOUNTING MEASURES

To help you proactively navigate the complex FEMA programs and track eligible costs incurred, the information available here is provided as a PUBLIC SERVICE so that you and your teams can better track Covid-19 disaster-related costs for financial recovery.

IMPORTANT – ONLY FEMA CAN MAKE ELIGIBILITY AND COST DETERMINATIONS on examples of possible eligible Covid-19 expenditures that should be tracked and documented such as, but not limited to:

  • Materials and Supplies used for Covid-19 by staff or contractors 
  • Consumable medical supplies that are ingested, injected, or applied or are for one-time use only
  • Evacuation Including Accessible Transportation and Emergency Medical Transportation
  • Rented Equipment used to provide emergency Covid-19 services
  • Durable medical equipment necessary for the treatment of Covid-19 or to prevent a patient’s further deterioration.
  • Contracts (existing and procured) to provide Covid-19 support services
  • Temporary Relocation of Essential Services
  • Donated Resources including materials, supplies, commercial services, volunteers
  • Management, control and reduction of immediate threats to public health and safety:

Eligible medical care includes, but is not limited to:

  • Triage and medically necessary tests and diagnosis
  • Treatment, stabilization, and monitoring
  • First-aid assessment and provision of first aid
  • A one-time 30-day supply of prescriptions for acute conditions or to replace maintenance prescriptions
  • Vaccinations for survivors and emergency workers to prevent outbreaks of infectious and communicable diseases
  • Durable medical equipment
  • Consumable medical supplies
  • Temporary facilities, such as tents or portable buildings for treatment of survivors
  • Leased or purchased equipment for use in temporary medical care facilities
  • Security for temporary medical care facilities
  • Use of ambulances for distributing immunizations and setting up mobile medical units


EMERGENCY COVID-19 RESPONSE FIRST, BUT TRACK & DOCUMENT COSTS

CONSISTENT COST TRACKING AND DOCUMENTATION OF COVID-19 RESPONSE COSTS WILL MAKE A REIMBURSEMENT DIFFERENCE

 Emergency responses and urgent public health responses are critical priorities. However, financial disaster recovery from the Covid-19 Pandemic response actions will become an essential budget issue in light of reducing tax revenues and increased demand for services.

Accounting Considerations -Tracking and Managing Coronavirus Recovery Costs

Recognizing the logistical and bureaucratic challenges this unprecedented response effort will bring, FEMA is actively working to develop a simplified application and funding process.

 Your experience with the FEMA Public Assistance Covid-19 Simplified Grant Process will be materially less administratively painful with smoother quicker reimbursement of costs, IF YOU

  1. Accurately track and document all COVID-19 response expenditures
  2. Consistently use activity/cost codes for COVD19 on all purchases of material, labor, supplies, contracts, services, and equipment that are directly related to responding to the COVID-19 pandemic.
  3. ADD NEW COST CODES for operations accounting for payroll, materials/supplies, contracts, and purchasing order protocols regardless of the supporting technology, even if you must use Excel spreadsheets

 FEMA Public Assistance program is a REIMBURSEMENT program.

 Applicants for Public Assistance MUST TAKE IMMEDIATE PROACTIVE ACCOUNTING MEASURES

To help you proactively navigate the complex FEMA programs and track eligible costs incurred, the information available here is provided as a PUBLIC SERVICE so that you and your teams can better track Covid-19 disaster-related costs for financial recovery.

IMPORTANT – ONLY FEMA CAN MAKE ELIGIBILITY AND COST DETERMINATIONS

The current FEMA PA Policy & Procedures Guide provides information on emergency work for traditional natural disasters.

FEMA HQ will most likely provide Covid-19 Disaster Specific Guidance in near future

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