Consider approval of a request to amend the fiscal year 2020-2021 budget to accept and appropriate Coronavirus State and Local Fiscal Recovery Funds established under the American Rescue Plan Act.

The United States Department of the Treasury has allocated the Coronavirus State and Local Fiscal Recovery Funds (CSLFR) under the American Rescue Plan Act.  These funds are to be used for specific listed eligible uses in the following categories: public health and economic impacts, premium pay, revenue loss, and investments in infrastructure.  The City of Texas City has been awarded $10,309,444.00.  The funds must be obligated by December 31, 2024 and expended by December 31, 2026.

A budget amendment is needed to create a new fund to account for the grant revenues and project expenditures.

 

Budget Amendment:

American Rescue Plan - CSLFR Fund  (Fund 243):
COVID-19 Mitigation & Prevention               $500,000.00
Assistance to Households                         $1,500,000.00
Water and Sewer Infrastructure                 $8,309,444.00
Grant Revenue                                      ($10,309,444.00)