Label
ARPA Funds
Department of Finance
Campbell (x1252)
Title
Establishing the Local Fiscal Recovery Fund to account for federal funds received through the American Rescue Plan Act (ARPA); authorizing the Mayor to accept and deposit ARPA funds; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The American Rescue Plan Act of 2021 was signed into law on March 11, 2021. As part of this COVID-19 stimulus package, federal funding will distributed to state and local governments to address the continued impact of COVID-19. The City of Toledo is projected to receive approximately $188.7 million through the ARPA. Half of this funding is expected in May of 2021 and half is expected in 2022. Funding must be spent by the end of calendar year 2024.
This ordinance authorizes the establishment of the Local Fiscal Recovery Fund to account for the award of these funds. The Ohio Auditor of State issued Bulletin 2021-004 (attached for reference) to provide accounting guidance for the ARPA programs and to emphasize the need for separate accountability of these federal funds.
This ordinance further authorizes the Mayor to accept and deposit ARPA funds into the Local Fiscal Recovery Fund. Subsequent ordinances will be presented to authorize appropriation and expenditure of funds for activities eligible under the ARPA.
The fiscal impact of this ordinance is as follows:
- The amount of funds requested: No expenditure authority requested with this ordinance
- The expenditure budget line item: N/A
- New revenue generated (operational revenue, grants, if any): $188.7 million (projected)
- Revenue budget line item (if any):
- Are funds budgeted in the current fiscal year (yes/no)?: No
- Is this a capital project (yes/no)? N/A
- If yes, is it new or existing (new/existing)? N/A
- What section of the City’s Strategic Plan does this support:
o Excellence in Basic Services (yes/no) yes
o Quality Community Investment (Livable City, Development) (yes/no) yes
o Workplace Culture & Customer Service (yes/no) yes
o Environment (yes/no) yes
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Local Fiscal Recovery Fund (fund number 2021) is established to account for revenues received through and the expenditures eligible under the American Rescue Plan Act of 2021.
SECTION 2. That the mayor is authorized to accept and deposit ARPA funds into the Local Fiscal Recovery Fund (Fund 2021) and otherwise in accordance with applicable federal treasury department regulations.
SECTION 3. That this Ordinance is declared to be an emergency measure and shall be in force and effect from and after its passage. The reason for the emergency lies in the fact that same is necessary for the immediate preservation of the public peace, health, safety, and property and for the further reason that this Ordinance must be immediately effective in order to timely account for the receipt of ARPA funding.
Vote on emergency clause: yeas 12, nays 0.
Passed: May 11, 2021, as an emergency measure: yeas 12, nays 0.
Attest:
Gerald E. Dendinger Matt Cherry
Clerk of Council President of Council
Approved: May 13, 2021
Wade Kapszukiewicz
Mayor