Summary
To: Town Commission
Through: Gay Lancaster, Town Manager
From: Amy Lockhart, Interim Finance Director
Date: 9/4/2024
__________________________________________________________________
Subject: Title
Use of Coronavirus State & Local Fiscal Recovery Funds, $2,133,637 plus Interest Earned
Summary:
The Town of Belleair received $2,133,637 in American Rescue Plan Act (ARPA): Coronavirus Local Fiscal Recovery Funds. We recommend designating $2,133,637, plus interest earned, of fire services expenses for ARPA expenses.
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Body
Previous Commission Action: Town Commission moved to direct staff to report the Town’s full ARPA allocation as revenue loss on April 19, 2022.
Background/Problem Discussion: The Town of Belleair received $2,133,637 in American Rescue Plan Act (ARPA): Coronavirus Local Fiscal Recovery Funds.
Per the U.S. Department of Treasury, 2022 Final Rule, revenue loss may be used to pay for “government services” in an amount equal to the revenue loss.
Government services generally include any service traditionally provided by a government, including public safety. This includes the provision of fire services.
The Compliance Guide states that the expenses must be incurred by the recipient after March 3, 2021 through December 31, 2024.
The Town has more than the award amount plus interest in fire services costs which fall within the period of performance.
Financial Implications: The General Fund can be reimbursed for $2,133,637 plus interest earned for fire service expenses.
Recommendation: I recommend designating $2,133,637 plus interest earned for fire service expenses for ARPA qualified expenses.
Proposed Motion: I move to designate $2,133,637 for fire service expenses as ARPA qualified expenses.