The Recovery Accountability and Transparency Board was created by the American Recovery and Reinvestment Act of 2009. The Board had two goals:
(1) To provide transparency in relation to the use of Recovery-related funds
(2) To prevent and detect fraud, waste, and mismanagement
The mission of the Board is to promote accountability by coordinating and conducting oversight of Recovery funds to prevent fraud, waste, and abuse and to foster transparency on Recovery spending by providing the public with accurate, user-friendly information.
The Board issues quarterly and annual reports to the President and Congress and, if necessary, "flash reports" on matters that require immediate attention. In addition, the Board maintains the Recovery.gov website so the American people can see how Recovery money is being distributed by federal agencies and how the funds are being used by the recipients.