Polk earns $313K by holding onto federal cash

Catch up quick: The county had nearly $6.6 million of excess pandemic relief or rent assistance that was not used before a December 2022 deadline.

• Polk could have returned the money with a final April 2023 report but opted to wait for a demand letter for its return.
• It was finally given back two days before an April 14 2024 deadline, Fitzgerald said.

Zoom in: The interest earnings and the potential for program revisions allowing governments to retain the funds were among the reasons the county held onto the cash.

💭 Our thought bubble: The situation highlights how more efficient processes could save the federal government a lot of money.