Here is your Forbes Daily Briefing for Saturday, August 17th.

Today on Forbes, Federal Emergency Management Agency says its disaster fund has run out of money.

With Hurricane Season still going strong, the Federal Emergency Management Agency,

or FEMA, says its disaster fund has run out of money.

Traditionally, Hurricane season runs from June 1st to

November 30th, but as of August 7th, 2024, FEMA will only provide money for immediate needs.

FEMA is a federal agency tasked with helping people before, during, and after disasters.

By law, FEMA must provide a report on the disaster relief fund, or

D.R.F, by the fifth day of each month.

That gets published on the agency's website.

The report includes, among other things, an overall funding summary, a summary of funding for the catastrophic events, and an estimate of the date on which the funds will be exhausted.

FEMA uses DRF money to direct, coordinate, manage, and fund eligible response and recovery

efforts associated with major disasters and emergencies that overwhelm state resources.

Through the DRF, FEMA can fund authorized federal disaster support activities

and eligible state, territorial, tribal, and local actions such as providing emergency protection and

debris removal.

The DRF also funds the repair and restoration of qualifying disaster-dam damaged public infrastructure, hazard mitigation

initiatives, financial assistance to eligible disaster survivors, and fire management assistance

grants for large forest or grassland wildfires.

When the DRF is insufficient, FEMA will prioritize life saving and life sustaining activities

using immediate needs funding or

INF. During INF, FEMMA will pause all new obligations related to

...