Transparency and accountability are the hallmarks of the Obama Administration’s plans to implement the American Recovery and Reinvestment Act (“Recovery Act”) of 2009, which was signed by President Obama on February 17, 2009. In an effort to stimulate the economy, the Recovery Act appropriates $787 billion for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and state and local fiscal stabilization. Federal agencies will obligate or expend the recovery funds through a variety of funding vehicles, including procurement contracts, grants and cooperative agreements, and loans and loan guarantees. In each case, the funds will be subject to an unprecedented level of transparency and accountability. For government contractors and others, the Recovery Act means opportunity. But, with opportunity comes responsibility; namely, the responsibility to put in place the policies, procedures, and infrastructure to meet the transparency and accountability requirements of the Recovery Act.

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