FEMA Issues Disaster Financial Management Guide for Local Jurisdictions
Yesterday, the Federal Emergency Management Agency (FEMA) issued the “Disaster Financial Management Guide” to support jurisdictions in establishing and implementing sound disaster financial management practices. The guide takes an all-hazards approach and addresses a broad range of issues and contains concepts, principles, and resources applicable to the COVID-19 pandemic response.
The guide identifies capabilities and activities necessary to prepare and successfully implement disaster financial management while maintain fiscal responsibility throughout response and recovery operations. This includes considerations and practices necessary to track, calculate, and justify costs of an emergency; support local reimbursement reconciliation; avoid de-obligation of grant funding; and effectively fund and implement recovery projects and priorities. The principles, concepts, and resources contained in the guide can support jurisdictions in identifying the resources needed to support their community, increase efficiency of recovery efforts, and reduce the likelihood of audits and financial penalties for the jurisdiction.