HomeMy WebLinkAboutReso 37-21 Approving the American Rescue Plan Act Budget for Fiscal Year 2021-22 and Establishing a Fund to Track Related Expenditures
Reso. No. 37-21, Item 8.1, Adopted 04/20/2021 Page 1 of 1
RESOLUTION NO. 37 - 21
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
APPROVING THE AMERICAN RESCUE PLAN ACT BUDGET
FOR FISCAL YEAR 2021-22 AND ESTABLISHING A FUND TO TRACK RELATED
EXPENSES
WHEREAS, in March 2021, President Biden signed into law the American Rescue Plan
Act, a $1.9 trillion COVID-19 aid package; and
WHEREAS, the American Rescue Plan Act included the Coronavirus State and Local
Fiscal Recovery Funds, which will provide the City approximately $12,202,075 in funding,
distributed in two equal tranches; and
WHEREAS, the City expects to receive its first tranche of approximately $6,101,037 by
June 2021; and
WHEREAS, all funds shall be expended by December 31, 2024 in accordance with the
American Rescue Plan Act, guidance developed by the U.S. Department of the Treasury, and
information included in the accompanying Staff Report.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin hereby
approves the American Rescue Plan Act Budget for Fiscal Year 2021-22, attached hereto as
Exhibit A; and
BE IT FURTHER RESOLVED that the City Manager is authorized to make any
necessary, non-substantive changes to carry out the intent of this Resolution, including making
nominal adjustments to the budgeted amounts, based on the total final funding amount.
BE IT FURTHER RESOLVED that a new Fund be created to track and account for all
related expenses funded by the American Rescue Plan Act Coronavirus State and Local Fiscal
Recovery Funds.
PASSED, APPROVED AND ADOPTED this 20th day of April 2021, by the following vote:
AYES: Councilmembers Hu, Josey, Kumagai, McCorriston and Mayor Hernandez
NOES:
ABSENT:
ABSTAIN:
______________________________
Mayor
ATTEST:
_________________________________
City Clerk
AMERICAN RESCUE PLAN ACT
CORONAVIRUS LOCAL FISCAL RECOVERY FUNDS BUDGET
1 FY 2021‐22 BUDGET
2 Revenue
3 ARPA Tranche 1 6,101,038$
4
5 Expenditures
6 Category 1: COVID Response
7 A. City COVID Response Expenses to Date
8 1. COVID Related Expenses 533,632$
9 2. Small Business Microloan Fund Reimbursement 519,461$
10 3. ED GF Subsidy Reimbursement 902,000$
11 B. Ongoing City COVID Expenses 300,000$
12 C. Assistance to Small Businesses 1,213,947$
13 D. Assistance to Non‐Profits 163,251$
14 Subtotal 3,632,292$
15 Category 3: Revenue Replacement
16 A. FY2019‐20 Revenue Replacement 1,014,500$
17 B. FY2020‐21 Revenue Replacement 1,454,246$
18 Subtotal 2,468,746$
19
20 Total Expenses 6,101,038$
21 Surplus/(Deficit)‐$