Label
CARES Act Funds
Department of Finance
Thomas Skrobola (x1648)
(Revised)
Title
Establishing the CARES Act Fund; authorizing the mayor to accept and deposit CARES Act funds; authorizing the appropriation and expenditure of CARES Act funds for COVID-19 related pandemic expenditures; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
Ohio S.B. 310 appropriated $350 million of funding allocated to the state from the federal "Coronavirus Aid, Relief, and Economic Security Act" (CARES Act) to counties, municipalities, and townships to fund their necessary COVID-19 pandemic-related expenses. This funding is to be distributed based on the proportion of Local Government Fund revenue allocated to subdivisions in 2019 to those the counties, municipalities, and townships that did not receive direct federal CARES Act payments.
The city of Toledo is projected to receive an initial amount of $10,078,625 from this distribution. This ordinance authorizes the establishment of a CARES Act Fund, as required by the bill, and further authorizes the appropriation and expenditure of these funds and any future distributed funds for purposes as prescribed in the CARES Act.
The fiscal impact of this ordinance is as follows:
- The amount of funds requested:
- The expenditure budget line item:
- New revenue generated (operational revenue, grants, if any): $10,078,625 (initial projection)
- Revenue budget line item (if any):
- Are funds budgeted in the current fiscal year (yes/no)?: yes
- Is this a capital project (yes/no)? yes
- If yes, is it new or existing (new/existing)? new
- What section of the City's Strategic Plan does this support:
o Excellence in Basic Services (yes/no) no
o Quality Community Investment (Livable City, Development) (yes/no) yes
o Workplace Culture & Customer Service (yes/no) no
o Environment (yes/no) no
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the CARES Act Fund (fund numb...
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