Federal Funds Accountability Bill
Congress has the responsibility of determining how much of our federal money is paid out and to which entities that money will go. However, since Congress authorizes federal funds to be allocated to various entities, Congress needs to know how that money is being spent. Congress does not need to keep track of every penny, but they should be aware if the money is being used for the purpose that it was given. For instance, if $20,000,000 was authorized for a particular purpose, the receiving agency should have to prove how much of that went to companies to do the intended work, how much went to labor, how much went to materials, how much went to administrative costs, and so on.
We cannot allow recipients of federal funds to take the money, cut corners, and pocket the rest. Congress has a responsibility to the American people to be great stewards of the people’s money. By extension, the entities receiving federal funds (taxpayer money) need to prove that they are also great stewards of the American citizens’ money. Congress is in the best position to provide a check on these entities receiving federal funds.
These entities would be required to provide monthly balance sheets to Congress detailing how the money is being spent, copies of contracts with any contractors, and a breakdown showing how much was paid for labor, materials, wages, and administrative costs.