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<br />STAFF REPORT <br />DATE: May 7, 2024 <br /> CONSENT <br /> MOTION <br />TO: City Council <br />FROM: Clarissa Hadler – Finance Director <br />AGENDA ITEM: ARPA Resolution <br />REVIEWED BY: Clark Schroeder, Interim City Administrator <br /> <br />BACKGROUND: <br />The projects designated for the ARPA funding have been completed. Finance staff will close out the ARPA <br />fund in 2024. As part of that fund closure, I’ve added some language that makes the election to the standard <br />allowance for revenue loss. This action was not necessarily required by the Treasury but was recommended <br />by LMC. <br /> <br />ISSUE BEFORE THE CITY COUNCIL: <br />1) Should the City Council approve the attached resolution? <br /> <br />DISCUSSION: <br />The City received just over $1,000,000 in ARPA funding in 2021 and 2022. The funds were spent largely <br />($945,000) on the Section 16 Infrastructure Improvements and Lift Station. <br /> <br />Treasury allowed for the election of a standard allowance, all funds could be used for the provision of <br />government services. This action was not necessarily required by the Treasury but was recommended by <br />LMC. The language in the resolution provides clarity for future staff and auditors of how the money was <br />utilized, and documents the allocation required by Treasury rules. <br /> <br />FISCAL IMPACT: <br />The remainder of the money in Fund 252, approximately $65,000, will be transferred to the General Fund. <br />This does not change any planned expenditures in the General Fund. <br /> <br />RECOMMENDATION: <br />If removed from the consent agenda: <br />Motion to Resolution 2024-057, a resolution finalizing utilization of American Rescue Plan Act (“ARPA”) <br />funds and closing fund 252. <br /> <br />ATTACHMENTS: <br />1) Resolution 2024-057.