| AGENDA ITEM #: 3. DATE: 07/19/2021 AI #:395 |
 |
CITY COUNCIL ACTION REPORT
| SUBJECT: | APPROVE FY2022 BUDGET TRANSFERS RELATED TO THE EXPENDITURE OF THE AMERICAN RESCUE PLAN ACT FUNDS AND THE CITY OF GOODYEAR COVID RESPONSE |
| STAFF PRESENTER(S): | Jared Askelson, Deputy Finance Director |
SUMMARY
Approval of all necessary FY2022 budget transfers in order to provide the specific budget authority required for the expenditure of funds related to the American Rescue Plan Act (ARPA) and the city of Goodyear COVID response
Recommendation
Approve all necessary FY2022 budget transfers related to the expenditure of the American Rescue Plan Act (ARPA) funds and the city of Goodyear COVID response. (Jared Askelson, Deputy Finance Director)
FISCAL IMPACT
The FY2022 Budget includes anticipated American Rescue Plan funding. As discussed during the budget process, these funds are included in the budget as contingencies as the specific use for them had yet to be determined. Funds will need to be transferred to provide the appropriate budget authority in order to implement the programs discussed during the work session, the capital projects to be accelerated and all other elements associated with the implementation of the city's COVID response and the expenditure of our ARPA allocation.
Funding will be re-allocated from existing contingency accounts to the following programs/projects:
Resident Support - $4,550,000
Specialty Court Pilot - $300,000
Small Business Assistance - $3,000,000
Stormwater Projects - $6,850,000
COVID Expenses - $500,000
Costs associated with payouts under the COVID Leave Bank are anticipated to be absorbed by personnel savings in each department, however this may not always be possible due to the overall budget of the department, the value of payouts, and improvements in our budgeting process designed to more accurately budget personnel costs which will reduce potential available savings. Transfers associated with the COVID Leave Banks will be processed as required.
Funding will be re-allocated from existing contingency accounts to the following programs/projects:
Resident Support - $4,550,000
Specialty Court Pilot - $300,000
Small Business Assistance - $3,000,000
Stormwater Projects - $6,850,000
COVID Expenses - $500,000
Costs associated with payouts under the COVID Leave Bank are anticipated to be absorbed by personnel savings in each department, however this may not always be possible due to the overall budget of the department, the value of payouts, and improvements in our budgeting process designed to more accurately budget personnel costs which will reduce potential available savings. Transfers associated with the COVID Leave Banks will be processed as required.
BACKGROUND AND PREVIOUS ACTIONS
A work session was held with Council on July 19, 2021 to discuss the city of Goodyear's response to the COVID panic related to programs and expenditures made possible through the American Rescue Plan Act funding.
STAFF ANALYSIS
Approval of the proposed transfers will allow for the implementation of the city's COVID response programs and the expenditure of all ARPA funds. As discussed, ARPA funding will be utilized on several infrastructure projects in order to reduce the administrative burden of federal requirements, freeing up general fund dollars for the proposed programs.